Nomura Holdings Inc. Trims Stake in Pure Storage, Inc. (NYSE:PSTG)

Nomura Holdings Inc. reduced its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 45.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,261 shares of the technology company's stock after selling 38,039 shares during the quarter. Nomura Holdings Inc.'s holdings in Pure Storage were worth $2,780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PSTG. World Investment Advisors increased its holdings in shares of Pure Storage by 1.6% in the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock valued at $592,000 after acquiring an additional 150 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of Pure Storage by 2.7% in the 4th 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 increased its holdings in shares of 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 period. Parallel Advisors LLC increased its holdings in shares of Pure Storage by 1.4% in the 4th 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 period. Finally, Cherry Creek Investment Advisors Inc. increased its holdings in shares of Pure Storage by 0.3% in 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 acquiring an additional 189 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PSTG shares. UBS Group lifted their price target on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. Bank of America dropped their target price 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. Evercore ISI dropped their target price on Pure Storage from $75.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Needham & Company LLC restated a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research note on Thursday, February 27th. Finally, Citigroup lifted their price target on Pure Storage from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday. 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $70.70.

Insider Activity

In related news, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction dated 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 transaction, the executive now owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This represents a 7.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the insider now directly owns 801,959 shares of the company's stock, valued at $41,709,887.59. The trade was a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,849 shares of company stock valued at $5,531,346 in the last quarter. 6.00% of the stock is currently owned by company insiders.

Pure Storage Stock Up 1.9%

Shares of PSTG stock opened at $56.53 on Friday. The stock has a market cap of $18.43 billion, a PE ratio of 148.77, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. The business has a 50-day simple moving average of $46.48 and a 200-day simple moving average of $55.68. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67.

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.

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