Stephens Investment Management Group LLC Sells 12,637 Shares of Pure Storage, Inc. (NYSE:PSTG)

Stephens Investment Management Group LLC lowered its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,130,197 shares of the technology company's stock after selling 12,637 shares during the period. Stephens Investment Management Group LLC owned approximately 0.35% of Pure Storage worth $69,428,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Citigroup Inc. lifted its stake in shares of Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company's stock worth $7,235,000 after purchasing an additional 14,659 shares during the period. TT International Asset Management LTD lifted its stake in shares of Pure Storage by 1,160.1% during the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock worth $3,671,000 after purchasing an additional 67,285 shares during the period. FMR LLC lifted its stake in shares of Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after purchasing an additional 368,643 shares during the period. Asio Capital LLC purchased a new position in shares of Pure Storage during the 4th quarter worth $264,000. Finally, Bank of Montreal Can lifted its stake in shares of Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company's stock worth $9,570,000 after purchasing an additional 92,762 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG traded down $0.04 on Wednesday, hitting $67.28. 2,054,037 shares of the company were exchanged, compared to its average volume of 2,420,878. The company's 50 day moving average price is $65.53 and its two-hundred day moving average price is $57.49. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 177.06, a PEG ratio of 5.26 and a beta of 1.09.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the sale, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 262,144 shares of the company's stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Guggenheim increased their target price on Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Oppenheimer assumed coverage on Pure Storage in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 target price on the stock. Piper Sandler raised Pure Storage from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Finally, TD Cowen increased their target price on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of "Moderate Buy" and a consensus price target of $72.70.

Pure Storage Profile

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.