Sheaff Brock Investment Advisors LLC Sells 4,118 Shares of Pure Storage, Inc. (NYSE:PSTG)

Sheaff Brock Investment Advisors LLC lowered its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,205 shares of the technology company's stock after selling 4,118 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Pure Storage were worth $2,163,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage in the 4th quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage in the fourth quarter valued at $29,000. Berbice Capital Management LLC bought a new position in shares of Pure Storage during the 4th quarter worth approximately $37,000. Larson Financial Group LLC raised its position 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 purchasing an additional 212 shares during the period. Finally, Financial Life Planners bought a new stake in shares of Pure Storage during the fourth quarter worth approximately $44,000. 83.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSTG has been the subject of a number of recent research reports. Needham & Company LLC boosted their target price on shares of Pure Storage from $62.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Lake Street Capital upped their target price on Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Stifel Nicolaus increased their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Finally, Evercore ISI raised their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.70.

Pure Storage Stock Down 1.4 %

PSTG traded down $0.97 during midday trading on Wednesday, hitting $67.94. 1,625,724 shares of the company were exchanged, compared to its average volume of 2,308,249. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67. The firm has a market capitalization of $22.17 billion, a P/E ratio of 178.80, a P/E/G ratio of 5.12 and a beta of 1.09. The firm's 50 day moving average price is $65.98 and its 200-day moving average price is $57.86.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares of the company's stock, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock valued at $8,871,746 over the last quarter. 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.