Mercer Global Advisors Inc. ADV decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 31.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,719 shares of the technology company's stock after selling 5,431 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Pure Storage were worth $720,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. World Investment Advisors raised its position in shares of Pure Storage by 1.6% during the fourth 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 grew its stake in Pure Storage by 2.7% during 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 in the last quarter. HighPoint Advisor Group LLC increased its holdings in Pure Storage by 2.7% in the 4th 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 lifted its stake in Pure Storage by 1.4% in the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock worth $815,000 after purchasing an additional 186 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its holdings in shares of Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock valued at $4,130,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.
Insiders Place Their Bets
In related news, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 801,959 shares of the company's stock, valued at $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction dated Monday, April 21st. The shares were 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 owns 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18% 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 worth $5,531,346 in the last three months. Corporate insiders own 6.00% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on PSTG shares. Citigroup cut their target price on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a report on Monday, April 14th. Evercore ISI decreased their price objective on Pure Storage from $75.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Bank of America lowered their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Piper Sandler decreased 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.20.
Check Out Our Latest Stock Report on PSTG
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 3,099,810. The stock's fifty day simple moving average is $46.04 and its 200 day simple moving average is $55.66. 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. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67.
About Pure Storage
(
Free Report)
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.
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