Yousif Capital Management LLC Reduces Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Yousif Capital Management LLC cut its stake in Pure Storage, Inc. (NYSE:PSTG) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,060 shares of the technology company’s stock after selling 3,869 shares during the quarter. Yousif Capital Management LLC’s holdings in Pure Storage were worth $6,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Citigroup Inc. grew its position in Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 14,659 shares during the period. TT International Asset Management LTD grew its holdings in shares of Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after acquiring an additional 67,285 shares during the period. FMR LLC increased its position in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after acquiring an additional 368,643 shares during the last quarter. Asio Capital LLC bought a new position in Pure Storage in the fourth quarter valued at about $264,000. Finally, Bank of Montreal Can lifted its holdings in Pure Storage by 92.0% in the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after acquiring an additional 92,762 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Stock Down 0.3 %

Shares of PSTG stock opened at $69.75 on Friday. The company’s fifty day simple moving average is $64.23 and its two-hundred day simple moving average is $57.22. Pure Storage, Inc. has a 52 week low of $38.78 and a 52 week high of $73.67. The stock has a market cap of $22.76 billion, a P/E ratio of 183.56, a PEG ratio of 8.18 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PSTG shares. Stifel Nicolaus upped their price target 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. Northland Securities reaffirmed a “market perform” rating and set a $63.00 target price (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Lake Street Capital lifted their price target on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI lifted their target price on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is currently owned by insiders.

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.