Schroder Investment Management Group Trims Holdings in Pure Storage, Inc. (NYSE:PSTG)

Schroder Investment Management Group lowered its position in Pure Storage, Inc. (NYSE:PSTG) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 732,231 shares of the technology company’s stock after selling 66,779 shares during the period. Schroder Investment Management Group owned approximately 0.22% of Pure Storage worth $45,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSTG. Bank of Montreal Can increased its stake in shares of Pure Storage by 92.0% in the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock worth $9,570,000 after acquiring an additional 92,762 shares during the period. BNP Paribas Financial Markets boosted its holdings in Pure Storage by 14.9% in the third quarter. BNP Paribas Financial Markets now owns 180,957 shares of the technology company’s stock valued at $9,091,000 after purchasing an additional 23,398 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Pure Storage by 377.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,381 shares of the technology company’s stock worth $421,000 after purchasing an additional 6,627 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pure Storage by 5.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,021 shares of the technology company’s stock worth $3,618,000 after purchasing an additional 3,753 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Pure Storage by 27.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 182,327 shares of the technology company’s stock valued at $9,160,000 after buying an additional 39,566 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Evercore ISI upped their price objective on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Stifel Nicolaus boosted their target price on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, TD Cowen raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Performance

Shares of PSTG stock opened at $44.22 on Tuesday. Pure Storage, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $73.67. The firm has a market capitalization of $14.43 billion, a P/E ratio of 116.38, a PEG ratio of 5.12 and a beta of 1.09. The stock’s fifty day moving average is $59.65 and its two-hundred day moving average is $57.47.

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.