UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 371,941 Shares of Pure Storage, Inc. (NYSE:PSTG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,489,680 shares of the technology company's stock after selling 371,941 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.76% of Pure Storage worth $152,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSTG. World Investment Advisors raised its holdings in Pure Storage by 1.6% during the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock valued at $592,000 after buying an additional 150 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Pure Storage by 2.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock valued at $355,000 after acquiring an additional 150 shares during the period. HighPoint Advisor Group LLC raised its stake in shares of Pure Storage by 2.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock valued at $396,000 after acquiring an additional 157 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Pure Storage by 1.4% during the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock valued at $815,000 after acquiring an additional 186 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its holdings in shares of Pure Storage by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock worth $4,130,000 after purchasing an additional 189 shares during the period. 83.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. UBS Group boosted their target price on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, February 27th. Citigroup upped 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. Piper Sandler cut their price target on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of "Moderate Buy" and an average price target of $70.70.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction 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 transaction, the executive now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 of the company's stock, valued at approximately $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 107,849 shares of company stock worth $5,531,346 in the last quarter. Company insiders own 5.60% of the company's stock.

Pure Storage Stock Performance

Shares of PSTG traded up $0.06 during mid-day trading on Tuesday, reaching $55.50. The company had a trading volume of 4,591,902 shares, compared to its average volume of 3,091,190. The company has a market capitalization of $18.09 billion, a price-to-earnings ratio of 146.06, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. The firm has a 50-day moving average price of $47.20 and a 200 day moving average price of $55.89. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

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.