Pacer Advisors Inc. Trims Stake in Pure Storage, Inc. (NYSE:PSTG)

Pacer Advisors Inc. lowered its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,966 shares of the technology company's stock after selling 14,882 shares during the period. Pacer Advisors Inc.'s holdings in Pure Storage were worth $3,929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nvwm LLC boosted its holdings in Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company's stock worth $52,000 after acquiring an additional 194 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after purchasing an additional 212 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after purchasing an additional 219 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Pure Storage by 3.1% in the fourth quarter. Brookstone Capital Management now owns 7,917 shares of the technology company's stock valued at $486,000 after purchasing an additional 240 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Pure Storage by 0.6% in the fourth quarter. KBC Group NV now owns 39,523 shares of the technology company's stock valued at $2,428,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

Pure Storage Stock Performance

NYSE:PSTG traded up $0.85 during trading hours on Friday, reaching $69.23. The company's stock had a trading volume of 648,966 shares, compared to its average volume of 2,478,640. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 182.51, a PEG ratio of 8.16 and a beta of 1.09. The firm has a 50-day simple moving average of $63.03 and a 200-day simple moving average of $57.07. Pure Storage, Inc. has a 1 year low of $38.78 and a 1 year high of $73.67.

Wall Street Analyst Weigh In

A number of analysts recently commented on PSTG shares. Citigroup increased their price target on Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price target on Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. UBS Group lifted their price target on Pure Storage from $45.00 to $47.00 and gave the company a "sell" rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus lifted their price target on Pure Storage from $60.00 to $65.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $72.70.

Insider Transactions at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the transaction, the chief accounting officer now owns 67,681 shares of the company's stock, valued at $4,207,050.96. This represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares in the company, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,178 shares of company stock worth $8,871,746. Company insiders own 6.00% of the company's stock.

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.