Nuveen Asset Management LLC Sells 175,450 Shares of Pure Storage, Inc. (NYSE:PSTG)

Nuveen Asset Management LLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 746,594 shares of the technology company's stock after selling 175,450 shares during the period. Nuveen Asset Management LLC owned about 0.23% of Pure Storage worth $45,863,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Pure Storage by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock worth $2,054,448,000 after buying an additional 615,931 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Pure Storage by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company's stock valued at $442,736,000 after purchasing an additional 401,035 shares during the last quarter. Geode Capital Management LLC lifted its position in Pure Storage by 25.4% during the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock valued at $413,982,000 after purchasing an additional 1,366,458 shares during the period. Champlain Investment Partners LLC boosted its holdings in Pure Storage by 3.0% in the fourth quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company's stock worth $363,751,000 after purchasing an additional 174,449 shares during the last quarter. Finally, Invesco Ltd. grew its position in Pure Storage by 18.8% in the 4th quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock worth $255,677,000 after purchasing an additional 657,175 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

Shares of PSTG stock traded up $0.62 during trading hours on Thursday, hitting $56.02. The stock had a trading volume of 2,017,693 shares, compared to its average volume of 3,087,273. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The stock's 50-day moving average price is $46.89 and its two-hundred day moving average price is $55.78. The stock has a market capitalization of $18.26 billion, a price-to-earnings ratio of 147.42, a PEG ratio of 5.12 and a beta of 1.05.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the sale, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. The trade was a 7.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred on 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 sale, the insider now directly owns 801,959 shares in the company, valued at $41,709,887.59. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,849 shares of company stock worth $5,531,346. Insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSTG. Piper Sandler lowered their price target on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Bank of America lowered their price target on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. UBS Group increased their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. Citigroup increased their price objective on shares of Pure Storage from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.20.

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.