Globeflex Capital L P Sells 39,771 Shares of Pure Storage, Inc. (NYSE:PSTG)

Globeflex Capital L P decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 38.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,318 shares of the technology company’s stock after selling 39,771 shares during the quarter. Globeflex Capital L P’s holdings in Pure Storage were worth $3,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSTG. Natixis Advisors LLC raised its stake in shares of Pure Storage by 85.6% in the fourth quarter. Natixis Advisors LLC now owns 110,834 shares of the technology company’s stock worth $6,809,000 after purchasing an additional 51,127 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Pure Storage by 14.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,856 shares of the technology company’s stock worth $2,448,000 after acquiring an additional 5,163 shares during the last quarter. Bowen Hanes & Co. Inc. boosted its stake in shares of Pure Storage by 12.5% in the fourth quarter. Bowen Hanes & Co. Inc. now owns 900,000 shares of the technology company’s stock worth $55,287,000 after acquiring an additional 100,000 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Pure Storage by 38.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 258,580 shares of the technology company’s stock worth $16,156,000 after buying an additional 71,300 shares during the last quarter. Finally, Achmea Investment Management B.V. acquired a new position in Pure Storage during the fourth quarter worth $1,973,000. Institutional investors own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the transaction, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSTG has been the topic of several research analyst reports. Northland Securities reiterated a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Lake Street Capital raised their price target on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus boosted their price target on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Trading Up 5.0 %

PSTG opened at $50.99 on Friday. The stock has a market capitalization of $16.63 billion, a P/E ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67. The firm’s fifty day simple moving average is $62.86 and its 200 day simple moving average is $57.38.

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.