Janus Henderson Group PLC Sells 521,673 Shares of Pure Storage, Inc. (NYSE:PSTG)

Janus Henderson Group PLC trimmed its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 44.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 640,980 shares of the technology company’s stock after selling 521,673 shares during the period. Janus Henderson Group PLC owned about 0.20% of Pure Storage worth $32,193,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of Pure Storage during the third quarter worth about $227,000. Erste Asset Management GmbH bought a new position in shares of Pure Storage during the 3rd quarter worth approximately $15,857,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Pure Storage by 27.7% in the third 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 purchasing an additional 39,566 shares during the last quarter. Twenty Acre Capital LP raised its holdings in shares of Pure Storage by 62.6% in the third quarter. Twenty Acre Capital LP now owns 134,828 shares of the technology company’s stock valued at $6,774,000 after purchasing an additional 51,928 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new position in Pure Storage during the third quarter worth $1,974,000. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSTG shares. Northland Securities reiterated a “market perform” rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage in a research note on Wednesday. Needham & Company LLC lifted 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. JPMorgan Chase & Co. increased their price target on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. Raymond James lowered their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Wells Fargo & Company increased their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.10.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mona Chu sold 25,000 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at approximately $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 valued at $25,154,030 over the last three months. 6.00% of the stock is owned by insiders.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $64.92 on Friday. The firm has a 50 day moving average of $53.04 and a 200-day moving average of $56.86. Pure Storage, Inc. has a 12 month low of $31.90 and a 12 month high of $70.41. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $21.27 billion, a PE ratio of 170.85, a PEG ratio of 7.27 and a beta of 1.13.

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.