Quantinno Capital Management LP Buys 23,076 Shares of Pure Storage, Inc. (NYSE:PSTG)

Quantinno Capital Management LP lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 54.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,813 shares of the technology company's stock after purchasing an additional 23,076 shares during the period. Quantinno Capital Management LP's holdings in Pure Storage were worth $4,043,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PSTG. Sugar Maple Asset Management LLC bought a new stake in Pure Storage in the 4th quarter valued at about $29,000. Compass Financial Services Inc bought a new stake in Pure Storage in the 4th quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new stake in Pure Storage in the 4th quarter valued at about $31,000. Berbice Capital Management LLC bought a new stake in Pure Storage in the 4th quarter valued at about $37,000. Finally, Financial Life Planners bought a new stake in Pure Storage in the 4th quarter valued at about $44,000. 83.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America lowered their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Citigroup lifted their target price on Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a report on Friday, May 16th. UBS Group lifted their target price on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. Evercore ISI lifted their target price on Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a report on Friday. Finally, Piper Sandler reduced their target price on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.70.

Insider Transactions at Pure Storage

In related news, 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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction that occurred on 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 sale, the executive now owns 90,223 shares of the company's stock, valued at $3,691,022.93. The trade was a 7.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,849 shares of company stock valued at $5,531,346. 5.60% of the stock is owned by corporate insiders.

Pure Storage Trading Down 1.0%

Shares of NYSE PSTG traded down $0.57 during midday trading on Friday, hitting $55.49. 2,770,050 shares of the company's stock were exchanged, compared to its average volume of 3,085,157. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The company has a market cap of $18.09 billion, a price-to-earnings ratio of 146.02, a PEG ratio of 5.12 and a beta of 1.05. The business's fifty day moving average price is $47.12 and its two-hundred day moving average price is $55.86.

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.