Quantbot Technologies LP lessened its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 76.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,551 shares of the technology company's stock after selling 51,748 shares during the period. Quantbot Technologies LP's holdings in Pure Storage were worth $955,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. William Blair Investment Management LLC raised its position in shares of Pure Storage by 1,725.3% in the fourth quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company's stock valued at $155,124,000 after purchasing an additional 2,386,864 shares during the period. Franklin Resources Inc. raised its holdings in Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after acquiring an additional 1,730,123 shares during the period. Raymond James Financial Inc. acquired a new position in Pure Storage during the 4th quarter worth $70,971,000. State Street Corp boosted its holdings in Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock valued at $515,596,000 after acquiring an additional 626,427 shares during the period. Finally, World Investment Advisors LLC bought a new stake in Pure Storage during the third quarter valued at about $20,470,000. 83.42% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Barclays boosted their price objective on Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. Northland Securities restated 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. Citigroup cut their target price on shares of Pure Storage from $80.00 to $77.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Lake Street Capital upped their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $73.20.
Check Out Our Latest Stock Report on Pure Storage
Insider Buying and Selling at Pure Storage
In other news, 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 completion of the sale, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.00% of the company's stock.
Pure Storage Stock Down 5.0 %
PSTG traded down $2.45 during trading on Friday, hitting $46.00. The company's stock had a trading volume of 3,002,676 shares, compared to its average volume of 3,088,047. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 121.04, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The firm's 50 day moving average price is $60.09 and its two-hundred day moving average price is $57.43. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67.
Pure Storage Profile
(
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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