Guggenheim Capital LLC Sells 21,221 Shares of Pure Storage, Inc. (NYSE:PSTG)

Guggenheim Capital LLC reduced its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 66.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,915 shares of the technology company's stock after selling 21,221 shares during the period. Guggenheim Capital LLC's holdings in Pure Storage were worth $671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Pure Storage by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock valued at $2,054,448,000 after purchasing an additional 615,931 shares during the last quarter. Geode Capital Management LLC grew its holdings in Pure Storage by 25.4% in the 4th quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock valued at $413,982,000 after buying an additional 1,366,458 shares during the last quarter. Invesco Ltd. increased its position in Pure Storage by 18.8% in the 4th quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock worth $255,677,000 after buying an additional 657,175 shares during the period. Norges Bank acquired a new position in shares of Pure Storage during the fourth quarter worth approximately $216,690,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Pure Storage by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,508,029 shares of the technology company's stock valued at $215,498,000 after acquiring an additional 9,985 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the transaction, the executive now owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This trade represents a 7.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.00% of the company's stock.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of research reports. UBS Group boosted their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Bank of America cut their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research report on Thursday, February 27th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Piper Sandler decreased their price objective on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Pure Storage has an average rating of "Moderate Buy" and a consensus target price of $70.95.

Pure Storage Trading Up 5.6 %

Shares of NYSE PSTG opened at $45.11 on Friday. The company has a 50-day moving average of $48.81 and a two-hundred day moving average of $56.17. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The company has a market cap of $14.71 billion, a PE ratio of 118.71, a P/E/G ratio of 5.12 and a beta of 1.08.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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