Principal Securities Inc. Has $134,000 Position in Pure Storage, Inc. (NYSE:PSTG)

Principal Securities Inc. decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 46.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,175 shares of the technology company’s stock after selling 1,865 shares during the quarter. Principal Securities Inc.’s holdings in Pure Storage were worth $134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in shares of Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after buying an additional 14,659 shares in the last quarter. TT International Asset Management LTD increased its stake in Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after acquiring an additional 67,285 shares during the last quarter. FMR LLC raised its position in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Sycomore Asset Management lifted its stake in Pure Storage by 57.8% during the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after purchasing an additional 68,840 shares during the last quarter. Finally, Asio Capital LLC acquired a new stake in shares of Pure Storage in the 4th quarter valued at $264,000. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on PSTG shares. Barclays boosted their target price on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price objective 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. TD Cowen raised their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Finally, Citigroup raised their price objective on Pure Storage from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.95.

Insider Buying and Selling at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred on 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 directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the transaction, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their position. 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 three months. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG opened at $61.35 on Wednesday. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 161.46, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $40.79 and a 52-week high of $73.67. The stock’s 50-day simple moving average is $66.09 and its 200 day simple moving average is $58.25.

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.