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

Stephens Investment Management Group LLC reduced its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 about 0.35% of Pure Storage worth $69,428,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PSTG. Truist Financial Corp lifted its stake in Pure Storage by 19.3% in the second quarter. Truist Financial Corp now owns 12,561 shares of the technology company’s stock worth $807,000 after purchasing an additional 2,028 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Pure Storage in the second quarter valued at approximately $988,000. UMB Bank n.a. boosted its stake in shares of Pure Storage by 26.0% during the third quarter. UMB Bank n.a. now owns 1,485 shares of the technology company’s stock valued at $75,000 after purchasing an additional 306 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Pure Storage by 93.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,300 shares of the technology company’s stock valued at $116,000 after buying an additional 1,111 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Pure Storage by 34.8% during the third quarter. Exchange Traded Concepts LLC now owns 58,102 shares of the technology company’s stock valued at $2,919,000 after acquiring an additional 15,013 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSTG has been the topic of a number of research analyst reports. Guggenheim boosted their price target on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” 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. Oppenheimer assumed coverage on Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock worth $8,871,746 in the last three months. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Down 0.9 %

NYSE PSTG opened at $69.08 on Friday. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67. The business has a 50-day moving average price of $64.89 and a 200-day moving average price of $57.36. The firm has a market cap of $22.54 billion, a price-to-earnings ratio of 181.78, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09.

Pure Storage Company 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.