Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Trimmed by Graphene Investments SAS

Graphene Investments SAS lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,600 shares of the technology company's stock after selling 17,400 shares during the quarter. Graphene Investments SAS's holdings in Pure Storage were worth $2,740,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Cherry Creek Investment Advisors Inc. boosted its position in Pure Storage by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock valued at $4,130,000 after buying an additional 189 shares during the last quarter. Nvwm LLC boosted its position in Pure Storage by 23.3% in the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company's stock worth $52,000 after purchasing an additional 194 shares in the last quarter. Larson Financial Group LLC boosted its position in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock worth $32,000 after purchasing an additional 212 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after purchasing an additional 219 shares in the last quarter. Finally, Brookstone Capital Management boosted its position in Pure Storage by 3.1% in the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company's stock worth $486,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Buying and Selling at Pure Storage

In related news, CAO Mona Chu sold 8,311 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,178 shares of company stock valued at $8,871,746. Insiders own 6.00% of the company's stock.

Pure Storage Stock Down 4.7 %

PSTG stock traded down $3.35 on Tuesday, reaching $67.57. 1,461,712 shares of the company's stock were exchanged, compared to its average volume of 2,356,210. The stock has a fifty day moving average of $65.25 and a 200-day moving average of $57.42. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67. The firm has a market cap of $22.04 billion, a PE ratio of 177.80, a P/E/G ratio of 5.26 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several research firms have commented on PSTG. Wells Fargo & Company upped their price objective on Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They set an "outperform" rating and a $70.00 target price for the company. Morgan Stanley upped their target price on Pure Storage from $62.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Barclays upped their target price on Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Finally, Guggenheim upped their target price on Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.70.

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.