Wellington Management Group LLP Has $1.97 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Wellington Management Group LLP decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 98.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,154 shares of the technology company's stock after selling 2,336,275 shares during the period. Wellington Management Group LLP's holdings in Pure Storage were worth $1,967,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Pure Storage by 56.1% in the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company's stock valued at $237,345,000 after buying an additional 1,327,873 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock worth $204,163,000 after acquiring an additional 747,034 shares in the last quarter. State Street Corp grew its position in Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock worth $515,596,000 after acquiring an additional 626,427 shares during the last quarter. FMR LLC increased its holdings in Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock valued at $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in Pure Storage in the 3rd quarter valued at $15,857,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PSTG. Evercore ISI increased their price target on shares of Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Barclays boosted their target price 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. William Blair reiterated an "outperform" rating on shares of Pure Storage in a research report on Thursday, November 14th. Stifel Nicolaus boosted their price objective on Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Finally, Citigroup raised their target price on shares of Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a research note 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $72.70.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mona Chu sold 25,000 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the sale, the chief accounting officer now owns 96,639 shares in the company, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 362,853 shares of company stock worth $20,676,642 in the last ninety days. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Performance

PSTG traded down $0.25 during trading hours on Thursday, reaching $62.34. The company's stock had a trading volume of 4,567,153 shares, compared to its average volume of 3,670,867. The company's 50-day moving average is $55.05 and its 200-day moving average is $56.95. Pure Storage, Inc. has a 52 week low of $34.32 and a 52 week high of $70.41. The firm has a market cap of $20.43 billion, a PE ratio of 164.06, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77.

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.