Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,928 shares of the technology company's stock after selling 8,783 shares during the quarter. Tidal Investments LLC's holdings in Pure Storage were worth $3,743,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PSTG. Sycomore Asset Management increased its stake in shares of Pure Storage by 57.8% during the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock valued at $11,541,000 after buying an additional 68,840 shares during the period. Asio Capital LLC bought a new position in Pure Storage during the 4th quarter worth about $264,000. Victory Capital Management Inc. increased its position in Pure Storage by 23.5% during the 4th quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company's stock valued at $17,486,000 after purchasing an additional 54,256 shares during the period. Franklin Resources Inc. raised its holdings in shares of Pure Storage by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 2,566,374 shares of the technology company's stock valued at $157,652,000 after purchasing an additional 12,972 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Pure Storage by 27.1% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 140,043 shares of the technology company's stock worth $8,603,000 after purchasing an additional 29,878 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 6,977 shares of the company'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 sale, the executive now owns 90,223 shares in the company, valued at $3,691,022.93. This represents a 7.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm'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 transaction of $5,201,000.00. Following the transaction, the insider now directly owns 801,959 shares of the company's stock, valued at $41,709,887.59. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,849 shares of company stock worth $5,531,346 in the last 90 days. Insiders own 5.60% of the company's stock.

Pure Storage Trading Down 1.0%

Shares of NYSE:PSTG traded down $0.57 on Monday, hitting $55.49. 2,770,050 shares of the company were exchanged, compared to its average volume of 3,085,157. The firm has a market capitalization of $18.09 billion, a P/E ratio of 146.02, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The stock's 50 day moving average price is $47.12 and its 200 day moving average price is $55.88.

Wall Street Analyst Weigh In

PSTG has been the topic of several research reports. Bank of America cut their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Piper Sandler decreased their price objective on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC reiterated a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. Morgan Stanley boosted their target price on shares of Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Finally, Evercore ISI raised their price target on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.70.

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.