Blue Trust Inc. Cuts Position in Pure Storage, Inc. (NYSE:PSTG)

Blue Trust Inc. trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 70.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,224 shares of the technology company’s stock after selling 2,942 shares during the quarter. Blue Trust Inc.’s holdings in Pure Storage were worth $75,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Banque Pictet & Cie SA raised its holdings in shares of Pure Storage by 12.7% in the 4th quarter. Banque Pictet & Cie SA now owns 159,796 shares of the technology company’s stock worth $9,816,000 after purchasing an additional 18,028 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of Pure Storage by 1.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 117,208 shares of the technology company’s stock worth $7,460,000 after purchasing an additional 1,742 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Pure Storage by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 86,400 shares of the technology company’s stock worth $5,308,000 after purchasing an additional 800 shares during the period. Portfolio Design Labs LLC purchased a new position in shares of Pure Storage in the 4th quarter worth about $312,000. Finally, UNICOM Systems Inc. purchased a new position in shares of Pure Storage in the 4th quarter worth about $17,508,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,178 shares of company stock valued at $8,871,746 in the last quarter. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PSTG shares. Citigroup raised their target price on Pure Storage from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley raised their target price on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. raised their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays raised their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Finally, Lake Street Capital raised their target price on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.95.

Pure Storage Stock Down 3.9 %

Pure Storage stock opened at $65.14 on Monday. The business has a 50 day moving average price of $66.23 and a two-hundred day moving average price of $58.16. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 171.43, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $40.32 and a 12 month high of $73.67.

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.