abrdn plc Sells 6,419 Shares of Pure Storage, Inc. (NYSE:PSTG)

abrdn plc cut its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,439 shares of the technology company's stock after selling 6,419 shares during the quarter. abrdn plc's holdings in Pure Storage were worth $5,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. lifted its stake in Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company's stock worth $7,235,000 after purchasing an additional 14,659 shares in the last quarter. TT International Asset Management LTD increased its holdings in shares of Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock worth $3,671,000 after buying an additional 67,285 shares during the last quarter. FMR LLC increased its holdings in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after buying an additional 368,643 shares during the last quarter. Asio Capital LLC bought a new position in shares of Pure Storage in the 4th quarter worth $264,000. Finally, Bank of Montreal Can increased its holdings in shares of Pure Storage by 92.0% in the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company's stock worth $9,570,000 after buying an additional 92,762 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSTG. Needham & Company LLC increased their price target on shares of Pure Storage from $62.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Guggenheim increased their price target on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Northland Securities reissued a "market perform" rating and issued a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Finally, Evercore ISI increased their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Pure Storage has a consensus rating of "Moderate Buy" and an average price target of $72.70.

Pure Storage Stock Down 0.1 %

Shares of NYSE:PSTG traded down $0.04 on Wednesday, hitting $67.28. The company had a trading volume of 2,054,037 shares, compared to its average volume of 2,420,878. The firm's 50-day simple moving average is $65.53 and its two-hundred day simple moving average is $57.49. Pure Storage, Inc. has a 1 year low of $38.78 and a 1 year high of $73.67. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 177.06, a P/E/G ratio of 5.26 and a beta of 1.09.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares of the company's stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 137,178 shares of company stock valued at $8,871,746. Company 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.