SG Americas Securities LLC Sells 53,720 Shares of Pure Storage, Inc. (NYSE:PSTG)

SG Americas Securities LLC lessened its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 96.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,087 shares of the technology company's stock after selling 53,720 shares during the quarter. SG Americas Securities LLC's holdings in Pure Storage were worth $128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PSTG. Sugar Maple Asset Management LLC bought a new stake in Pure Storage in the 4th quarter worth about $29,000. ORG Wealth Partners LLC bought a new stake in Pure Storage in the 3rd quarter worth about $31,000. Larson Financial Group LLC grew its stake in shares of Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock valued at $32,000 after purchasing an additional 212 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after purchasing an additional 219 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Pure Storage during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PSTG shares. Piper Sandler upgraded Pure Storage from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price target for the company. William Blair restated an "outperform" rating on shares of Pure Storage in a research note on Thursday, November 14th. TD Cowen boosted their price target on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their price target on Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.70.

Pure Storage Stock Up 0.4 %

NYSE PSTG traded up $0.24 during trading hours on Friday, reaching $67.78. The company's stock had a trading volume of 1,475,224 shares, compared to its average volume of 2,416,183. The company has a market capitalization of $22.11 billion, a price-to-earnings ratio of 178.38, a PEG ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 1 year low of $38.78 and a 1 year high of $73.67. The firm's 50-day moving average price is $65.73 and its 200-day moving average price is $57.70.

Insider Transactions at Pure Storage

In other news, CAO Mona Chu sold 8,311 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares of the company's stock, valued at $4,207,050.96. This represents a 10.94 % decrease in their position. The sale 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 that occurred on 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 transaction, the insider now directly owns 262,144 shares in the company, 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. Insiders have sold 137,178 shares of company stock valued at $8,871,746 in the last ninety days. Corporate 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.