AlphaQuest LLC Has $65,000 Position in Pure Storage, Inc. (NYSE:PSTG)

AlphaQuest LLC decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 91.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,052 shares of the technology company's stock after selling 11,145 shares during the period. AlphaQuest LLC's holdings in Pure Storage were worth $65,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage in the fourth quarter valued at $29,000. Compass Financial Services Inc bought a new position in shares of Pure Storage in the fourth quarter valued at $29,000. Larson Financial Group LLC increased 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 buying an additional 212 shares in the last quarter. Berbice Capital Management LLC bought a new position in shares of Pure Storage in the fourth quarter valued at $37,000. Finally, Financial Life Planners bought a new position in shares of Pure Storage in the fourth quarter valued at $44,000. Institutional investors own 83.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup dropped their price target on Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. Northland Securities reiterated a "market perform" rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. StockNews.com cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Barclays lifted their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.20.

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Pure Storage Price Performance

NYSE:PSTG traded up $0.32 during trading hours on Friday, reaching $51.11. The company's stock had a trading volume of 4,095,647 shares, compared to its average volume of 3,021,822. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The business's 50-day moving average is $61.53 and its 200-day moving average is $57.31.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

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.