Nikko Asset Management Americas Inc. reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,266,738 shares of the technology company's stock after selling 164,562 shares during the period. Nikko Asset Management Americas Inc. owned about 0.39% of Pure Storage worth $77,816,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc bought a new position in Pure Storage during the 4th quarter worth approximately $29,000. Larson Financial Group LLC grew 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 worth $32,000 after acquiring an additional 212 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Pure Storage in the 4th quarter valued at approximately $37,000. Finally, Financial Life Planners bought a new stake in shares of Pure Storage in the 4th quarter valued at approximately $44,000. Institutional investors own 83.42% of the company's stock.
Pure Storage Price Performance
Shares of NYSE PSTG traded up $0.32 during mid-day trading on Friday, reaching $51.11. 4,095,647 shares of the company traded hands, compared to its average volume of 3,028,751. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The firm has a market cap of $16.67 billion, a PE ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The stock has a fifty day simple moving average of $61.80 and a 200-day simple moving average of $57.25.
Insider Buying and Selling at Pure Storage
In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the company's stock in a transaction dated 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 sale, the executive now directly owns 72,927 shares of the company's stock, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms have commented on PSTG. StockNews.com downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. TD Cowen boosted their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Lake Street Capital raised their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Piper Sandler raised Pure Storage from a "neutral" rating to an "overweight" rating and upped their target price for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. Finally, UBS Group increased their price target on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $73.20.
Get Our Latest Stock Analysis on PSTG
About Pure Storage
(
Free Report)
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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