Picton Mahoney Asset Management Cuts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Picton Mahoney Asset Management cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 97.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 633 shares of the technology company's stock after selling 24,944 shares during the quarter. Picton Mahoney Asset Management's holdings in Pure Storage were worth $39,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock valued at $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. State Street Corp boosted its position in shares of Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock valued at $515,596,000 after purchasing an additional 626,427 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Pure Storage by 3.2% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company's stock valued at $285,575,000 after purchasing an additional 177,559 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Pure Storage by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company's stock valued at $269,798,000 after purchasing an additional 219,971 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Pure Storage by 22.5% during 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 purchasing an additional 747,034 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

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Insider Buying and Selling at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the transaction, the executive now owns 72,927 shares of the company's stock, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company's stock.

Pure Storage Price Performance

Pure Storage stock traded down $0.71 during trading hours on Thursday, hitting $50.81. 2,001,926 shares of the stock traded hands, compared to its average volume of 3,026,454. The firm's 50 day moving average price is $62.07 and its 200-day moving average price is $57.29. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 133.71, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 1 year low of $44.76 and a 1 year high of $73.67.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of research reports. Lake Street Capital upped their price target on Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Northland Securities reaffirmed a "market perform" rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. UBS Group lifted their price objective on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, February 27th. Finally, Stifel Nicolaus raised 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and a consensus target price of $73.20.

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.