Ameriprise Financial Inc. Decreases Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Ameriprise Financial Inc. trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 842,302 shares of the technology company's stock after selling 251,210 shares during the quarter. Ameriprise Financial Inc. owned about 0.26% of Pure Storage worth $51,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Pure Storage by 9.4% during the third quarter. Barclays PLC now owns 316,911 shares of the technology company's stock valued at $15,921,000 after purchasing an additional 27,345 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Pure Storage by 7.2% in the fourth quarter. Nordea Investment Management AB now owns 23,034 shares of the technology company's stock worth $1,424,000 after acquiring an additional 1,542 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Pure Storage by 11.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,500 shares of the technology company's stock worth $829,000 after acquiring an additional 1,395 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Pure Storage by 34.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,790 shares of the technology company's stock valued at $233,000 after acquiring an additional 965 shares in the last quarter. Finally, Brookstone Capital Management raised its position in shares of Pure Storage by 3.1% in the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company's stock worth $486,000 after purchasing an additional 240 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the transaction, the executive now directly owns 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the sale, the insider now owns 801,959 shares in the company, valued at $41,709,887.59. The trade was a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,849 shares of company stock valued at $5,531,346 in the last 90 days. Insiders own 6.00% of the company's stock.

Pure Storage Trading Up 2.1%

Shares of Pure Storage stock traded up $1.14 during trading on Wednesday, hitting $56.26. 2,696,198 shares of the stock traded hands, compared to its average volume of 3,095,349. The firm has a market cap of $18.34 billion, a P/E ratio of 148.06, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. The stock's fifty day simple moving average is $46.04 and its 200 day simple moving average is $55.66. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67.

Analysts Set New Price Targets

Several analysts have commented on PSTG shares. Needham & Company LLC reiterated a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. Evercore ISI lowered their target price on shares of Pure Storage from $75.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Bank of America reduced their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Piper Sandler lowered their target price on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group boosted their price objective on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Pure Storage currently has an average rating of "Moderate Buy" and an average target price of $70.20.

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.