Alight Capital Management LP Has $1.84 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Alight Capital Management LP reduced its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the technology company's stock after selling 45,000 shares during the quarter. Alight Capital Management LP's holdings in Pure Storage were worth $1,843,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage in the fourth quarter worth $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage during the fourth quarter valued at $31,000. Berbice Capital Management LLC acquired a new stake in shares of Pure Storage in the 4th quarter worth about $37,000. Finally, Financial Life Planners bought a new stake in Pure Storage in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSTG. Evercore ISI cut their price target on Pure Storage from $75.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. UBS Group increased their price target on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. Bank of America reduced their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. StockNews.com downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $70.20.

Pure Storage Stock Up 0.2 %

Shares of PSTG traded up $0.11 during trading hours on Tuesday, reaching $47.69. The company's stock had a trading volume of 2,794,089 shares, compared to its average volume of 3,095,766. The firm has a market cap of $15.55 billion, a price-to-earnings ratio of 125.51, a P/E/G ratio of 5.12 and a beta of 1.05. The company has a 50 day moving average of $46.13 and a two-hundred day moving average of $55.83. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67.

Insider Activity at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the sale, the executive now owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This trade represents a 7.18 % 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. 6.00% of the stock is currently owned by insiders.

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.