Price T Rowe Associates Inc. MD Sells 106,008 Shares of Pure Storage, Inc. (NYSE:PSTG)

Price T Rowe Associates Inc. MD reduced its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,611,254 shares of the technology company's stock after selling 106,008 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.49% of Pure Storage worth $98,981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new position in Pure Storage in the 4th quarter valued at $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage in the fourth quarter worth $29,000. Crowley Wealth Management Inc. bought a new stake in Pure Storage during the fourth quarter valued at $31,000. Berbice Capital Management LLC purchased a new position in Pure Storage during the fourth quarter worth about $37,000. Finally, Financial Life Planners purchased a new stake in shares of Pure Storage in the 4th quarter valued at about $44,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Price Performance

NYSE PSTG opened at $45.71 on Monday. The business's 50-day moving average is $48.34 and its 200 day moving average is $56.17. The stock has a market capitalization of $14.90 billion, a PE ratio of 120.29, a PEG ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67.

Analyst Ratings Changes

Several research analysts have recently commented on PSTG shares. Citigroup cut their price objective on Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. UBS Group increased their target price 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, Piper Sandler dropped their price target on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and an average target price of $70.95.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the transaction, the executive now owns 90,223 shares in the company, valued at $3,691,022.93. This represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.00% of the company's stock.

About Pure Storage

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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