Robeco Institutional Asset Management B.V. Decreases Stake in Pure Storage, Inc. (NYSE:PSTG)

Robeco Institutional Asset Management B.V. reduced its stake in Pure Storage, Inc. (NYSE:PSTG) by 13.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 280,296 shares of the technology company’s stock after selling 42,290 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Pure Storage were worth $17,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new position in shares of Pure Storage in the 4th quarter valued at approximately $29,000. Berbice Capital Management LLC purchased a new position in Pure Storage during the 4th quarter worth approximately $37,000. ORG Wealth Partners LLC purchased a new position in Pure Storage during the 3rd quarter worth approximately $31,000. Larson Financial Group LLC raised its position in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage 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 owns 7,316,722 shares of the company’s stock, valued at $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 8,311 shares of Pure Storage stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock valued at $8,871,746 in the last 90 days. 6.00% of the stock is owned by insiders.

Pure Storage Stock Down 0.7 %

Shares of PSTG opened at $67.89 on Friday. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The firm’s fifty day moving average is $63.03 and its two-hundred day moving average is $57.07. The stock has a market cap of $22.15 billion, a PE ratio of 178.66, a price-to-earnings-growth ratio of 8.16 and a beta of 1.09.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. TD Cowen raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Lake Street Capital raised their price target on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC lifted their target price on shares of Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

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.