Sanctuary Advisors LLC Has $939,000 Stake in Pure Storage, Inc. (NYSE:PSTG)

Sanctuary Advisors LLC lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,286 shares of the technology company’s stock after selling 2,423 shares during the quarter. Sanctuary Advisors LLC’s holdings in Pure Storage were worth $939,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PSTG. Franklin Resources Inc. grew its holdings in Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after buying an additional 1,730,123 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after buying an additional 747,034 shares in the last quarter. State Street Corp grew its holdings in Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after buying an additional 626,427 shares in the last quarter. World Investment Advisors LLC bought a new position in Pure Storage in the 3rd quarter valued at $20,470,000. Finally, FMR LLC grew its stake in Pure Storage by 0.8% in the 3rd 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 during the period. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,178 shares of company stock valued at $8,871,746. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of recent analyst reports. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Barclays upped their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI upped their price objective on Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One 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, the company currently has an average rating of “Moderate Buy” and an average price target of $72.95.

Pure Storage Stock Performance

Shares of PSTG opened at $62.49 on Thursday. The stock’s 50-day simple moving average is $66.09 and its 200 day simple moving average is $58.28. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of 164.45, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $40.95 and a 52-week high of $73.67.

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.