Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 21.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 957,699 shares of the technology company's stock after selling 269,237 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.29% of Pure Storage worth $58,831,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $29,000. Berbice Capital Management LLC purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $37,000. Larson Financial Group LLC lifted its position in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after acquiring an additional 212 shares in the last quarter. Finally, Financial Life Planners purchased a new stake in shares of Pure Storage in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on PSTG. Morgan Stanley upped their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Evercore ISI upped their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Northland Securities reiterated a "market perform" rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, UBS Group upped their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and an average target price of $73.20.

Remove Ads

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the company's 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 transaction, the insider now owns 262,144 shares of the company's stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm's 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 sale, the executive now owns 72,927 shares of the company's stock, valued at $4,675,349.97. This represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company's stock.

Pure Storage Stock Down 0.9 %

Shares of NYSE:PSTG opened at $48.21 on Thursday. The company has a market cap of $15.73 billion, a price-to-earnings ratio of 126.86, a PEG ratio of 5.12 and a beta of 1.09. The business has a 50 day moving average price of $63.40 and a 200 day moving average price of $57.51. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67.

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.

Want to see what other hedge funds are holding PSTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pure Storage, Inc. (NYSE:PSTG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.