Zacks Investment Management Sells 62,019 Shares of Pure Storage, Inc. (NYSE:PSTG)

Zacks Investment Management trimmed its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 375,672 shares of the technology company's stock after selling 62,019 shares during the period. Zacks Investment Management owned about 0.12% of Pure Storage worth $23,078,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Sugar Maple Asset Management LLC bought a new stake in shares of Pure Storage during the fourth quarter worth $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage in the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. acquired a new stake in Pure Storage in the 4th quarter valued at about $31,000. Berbice Capital Management LLC bought a new position in shares of Pure Storage in the fourth quarter worth about $37,000. Finally, Financial Life Planners bought a new stake in shares of Pure Storage during the fourth quarter valued at approximately $44,000. 83.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PSTG. Citigroup reduced their price objective on Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. StockNews.com lowered Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. UBS Group lifted their price objective on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Bank of America dropped their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Pure Storage has a consensus rating of "Moderate Buy" and a consensus price target of $70.95.

Pure Storage Trading Up 0.2 %

Shares of PSTG stock traded up $0.09 during trading hours on Tuesday, hitting $40.30. 498,523 shares of the company were exchanged, compared to its average volume of 3,109,205. The company has a market capitalization of $13.14 billion, a PE ratio of 106.27, a PEG ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The business has a 50 day moving average of $50.30 and a two-hundred day moving average of $56.42.

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.