Pure Storage, Inc. (NYSE:PSTG) Stock Position Decreased by Diversified Trust Co

Diversified Trust Co cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.1% during the fourth quarter, Holdings Channel reports. The firm owned 46,046 shares of the technology company’s stock after selling 1,974 shares during the quarter. Diversified Trust Co’s holdings in Pure Storage were worth $2,829,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sycomore Asset Management acquired a new stake in Pure Storage during the 2nd quarter worth about $2,259,000. Citigroup Inc. lifted 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 acquiring an additional 14,659 shares in the last quarter. TT International Asset Management LTD boosted its stake in Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after purchasing an additional 67,285 shares during the period. FMR LLC boosted 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 worth $2,469,487,000 after purchasing an additional 368,643 shares during the period. Finally, Bank of Montreal Can grew its position in Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock worth $9,570,000 after purchasing an additional 92,762 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares of the company’s stock, 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. In the last 90 days, insiders sold 237,178 shares of company stock valued at $14,603,746. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Down 2.5 %

Pure Storage stock opened at $62.96 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. Pure Storage, Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $70.41. The firm has a fifty day moving average price of $57.64 and a two-hundred day moving average price of $56.68. The firm has a market cap of $20.54 billion, a price-to-earnings ratio of 165.69, a P/E/G ratio of 7.69 and a beta of 1.09.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PSTG. Stifel Nicolaus upped their price target on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Oppenheimer assumed coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective on the stock. Morgan Stanley increased their target price on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Lake Street Capital boosted their price target on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

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.