Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 15.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,814 shares of the technology company's stock after selling 21,223 shares during the quarter. Stifel Financial Corp's holdings in Pure Storage were worth $6,019,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Larson Financial Group LLC lifted its stake in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company's stock worth $28,000 after acquiring an additional 306 shares during the period. ORG Partners LLC acquired a new position in Pure Storage in the 2nd quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new position in Pure Storage in the 3rd quarter worth approximately $31,000. Blue Trust Inc. boosted its position in Pure Storage by 174.4% in the 2nd quarter. Blue Trust Inc. now owns 741 shares of the technology company's stock worth $48,000 after purchasing an additional 471 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after purchasing an additional 219 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Price Performance

Shares of PSTG stock traded up $1.18 during trading hours on Friday, hitting $63.70. The company's stock had a trading volume of 3,645,944 shares, compared to its average volume of 3,671,269. The business has a fifty day moving average of $54.29 and a 200-day moving average of $56.89. The stock has a market cap of $20.87 billion, a price-to-earnings ratio of 167.64, a P/E/G ratio of 7.48 and a beta of 1.13. Pure Storage, Inc. has a twelve month low of $34.32 and a twelve month high of $70.41. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PSTG shares. Needham & Company LLC increased their target price on Pure Storage from $62.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. UBS Group raised their target price on Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a research note on Wednesday, December 4th. Oppenheimer started coverage on shares of Pure Storage in a report on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 price objective on the stock. Finally, Citigroup boosted their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.10.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares of the company's stock, valued at approximately $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 454,542 shares of company stock worth $25,154,030 over the last ninety days. 6.00% of the stock is currently owned by insiders.

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.