Price T Rowe Associates Inc. MD Sells 106,008 Shares of Pure Storage, Inc. (NYSE:PSTG)

Price T Rowe Associates Inc. MD reduced its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,611,254 shares of the technology company's stock after selling 106,008 shares during the period. Price T Rowe Associates Inc. MD owned 0.49% of Pure Storage worth $98,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new stake in Pure Storage during the fourth quarter valued at about $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new position in Pure Storage in the 4th quarter worth approximately $31,000. Berbice Capital Management LLC acquired a new position in shares of Pure Storage during the fourth quarter worth approximately $37,000. Finally, Financial Life Planners bought a new stake in shares of Pure Storage in the fourth quarter valued at approximately $44,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the transaction, the executive now directly owns 90,223 shares in the company, valued at approximately $3,691,022.93. The trade was a 7.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PSTG. Evercore ISI dropped their target price on shares of Pure Storage from $75.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday. UBS Group lifted their target price on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. StockNews.com lowered Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Bank of America cut their target price 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. One equities research 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. According to MarketBeat, Pure Storage has a consensus rating of "Moderate Buy" and an average target price of $70.20.

Pure Storage Price Performance

PSTG stock traded up $1.13 during trading hours on Thursday, reaching $46.49. The stock had a trading volume of 2,543,639 shares, compared to its average volume of 3,101,638. The stock has a market capitalization of $15.16 billion, a PE ratio of 122.35, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. The stock has a 50-day simple moving average of $47.05 and a 200 day simple moving average of $55.97. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two 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.