Private Advisor Group LLC Sells 789 Shares of Pure Storage, Inc. (NYSE:PSTG)

Private Advisor Group LLC cut its stake in Pure Storage, Inc. (NYSE:PSTG) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,523 shares of the technology company’s stock after selling 789 shares during the period. Private Advisor Group LLC’s holdings in Pure Storage were worth $868,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Pure Storage by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after acquiring an additional 28,086 shares during the last quarter. Quest Partners LLC acquired a new position in Pure Storage in the fourth quarter valued at approximately $592,000. State of Alaska Department of Revenue acquired a new position in Pure Storage in the first quarter valued at approximately $1,675,000. Texas Permanent School Fund Corp acquired a new position in Pure Storage in the first quarter valued at approximately $13,514,000. Finally, QRG Capital Management Inc. lifted its stake in Pure Storage by 5.9% in the fourth quarter. QRG Capital Management Inc. now owns 10,845 shares of the technology company’s stock valued at $387,000 after buying an additional 600 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Trading Up 1.4 %

Shares of Pure Storage stock opened at $49.60 on Tuesday. The company has a market capitalization of $16.13 billion, a P/E ratio of 177.14, a price-to-earnings-growth ratio of 7.49 and a beta of 1.11. 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 fifty day simple moving average of $56.95 and a 200 day simple moving average of $57.18. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent analyst reports. KeyCorp boosted their price target on Pure Storage from $64.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Northland Capmk lowered Pure Storage from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Lake Street Capital dropped their price target on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and set a $59.00 target price (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Finally, Wells Fargo & Company upped their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares in the company, valued at approximately $33,082,961.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the transaction, the insider now owns 700,000 shares in the company, valued at approximately $43,232,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO P. Kevan Krysler sold 14,296 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the transaction, the chief financial officer now owns 518,623 shares of the company’s stock, valued at approximately $33,082,961.17. The disclosure for this sale can be found here. Insiders sold 324,177 shares of company stock worth $18,863,083 in the last quarter. 6.00% of the stock is currently owned by company 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.