HighTower Advisors LLC Has $1.57 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

HighTower Advisors LLC decreased its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 34.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,095 shares of the technology company's stock after selling 16,565 shares during the quarter. HighTower Advisors LLC's holdings in Pure Storage were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its position in Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock valued at $2,469,487,000 after acquiring an additional 368,643 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock valued at $204,163,000 after acquiring an additional 747,034 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Pure Storage by 56.1% in the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company's stock valued at $237,345,000 after purchasing an additional 1,327,873 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Pure Storage by 3.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,861,621 shares of the technology company's stock worth $143,768,000 after purchasing an additional 93,106 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in Pure Storage by 0.7% during the second quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company's stock worth $151,405,000 after purchasing an additional 15,747 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on PSTG. Barclays raised their price target on Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. Guggenheim lifted their price target on Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Raymond James reduced their target price on Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus increased their price target on Pure Storage from $60.00 to $65.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Finally, UBS Group upped their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the company a "sell" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.10.

Pure Storage Trading Up 4.6 %

Pure Storage stock traded up $2.91 during trading hours on Monday, hitting $66.62. The stock had a trading volume of 3,378,230 shares, compared to its average volume of 3,670,065. The business's 50 day simple moving average is $54.29 and its 200-day simple moving average is $56.84. Pure Storage, Inc. has a one year low of $34.32 and a one year high of $70.41. The stock has a market cap of $21.83 billion, a price-to-earnings ratio of 175.61, a P/E/G ratio of 7.69 and a beta of 1.13. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07.

Insider Activity at Pure Storage

In other news, CAO Mona Chu sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now owns 96,639 shares of the company's stock, valued at approximately $4,862,874.48. This represents a 20.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the transaction, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 462,853 shares of company stock worth $25,670,642 in the last quarter. 6.00% of the stock is owned by insiders.

Pure Storage 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.