Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lowered its stake in Pure Storage, Inc. (NYSE:PSTG) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,500,896 shares of the technology company’s stock after selling 82,265 shares during the period. Goldman Sachs Group Inc. owned 0.48% of Pure Storage worth $53,522,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PSTG. HighTower Advisors LLC grew its position in shares of Pure Storage by 9.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,240 shares of the technology company’s stock worth $472,000 after acquiring an additional 1,185 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Pure Storage by 6.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,313 shares of the technology company’s stock worth $296,000 after purchasing an additional 532 shares during the period. Deutsche Bank AG increased its stake in Pure Storage by 238.9% during the third quarter. Deutsche Bank AG now owns 77,008 shares of the technology company’s stock valued at $2,743,000 after purchasing an additional 54,288 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Pure Storage by 43.2% during the third quarter. Kestra Advisory Services LLC now owns 15,469 shares of the technology company’s stock worth $551,000 after purchasing an additional 4,669 shares during the period. Finally, QRG Capital Management Inc. bought a new position in shares of Pure Storage in the 3rd quarter worth about $365,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 0.8 %

PSTG opened at $68.35 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00. The company has a market capitalization of $22.21 billion, a PE ratio of 244.11, a P/E/G ratio of 6.82 and a beta of 1.06. The stock’s fifty day moving average is $57.78 and its 200-day moving average is $48.22. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of Pure Storage from $64.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and set a $70.00 price target (up from $50.00) on shares of Pure Storage in a research report on Tuesday, May 28th. UBS Group boosted their price objective on Pure Storage from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Evercore ISI increased their target price on Pure Storage from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Finally, Barclays raised their target price on Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.42.

Insider Buying and Selling

In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO P. Kevan Krysler sold 15,286 shares of Pure Storage stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the transaction, the chief financial officer now directly owns 507,824 shares in the company, valued at approximately $26,813,107.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mallun Yen sold 4,818 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $64.78, for a total value of $312,110.04. Following the sale, the director now directly owns 35,498 shares in the company, valued at $2,299,560.44. The disclosure for this sale can be found here. Insiders have sold a total of 291,399 shares of company stock valued at $15,578,814 over the last three months. Company insiders own 6.00% of the company’s stock.

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.