Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,109 shares of the technology company's stock after selling 11,110 shares during the period. Cresset Asset Management LLC owned 0.10% of Pure Storage worth $19,603,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSTG. Barclays PLC lifted its holdings in Pure Storage by 9.4% in the 3rd quarter. Barclays PLC now owns 316,911 shares of the technology company's stock valued at $15,921,000 after purchasing an additional 27,345 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Pure Storage in the 3rd quarter worth approximately $477,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Pure Storage during the 3rd quarter worth $119,000. Franklin Resources Inc. increased its stake in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock valued at $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Pure Storage by 54.5% during the 4th quarter. GAMMA Investing LLC now owns 3,210 shares of the technology company's stock valued at $197,000 after acquiring an additional 1,132 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Activity 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 transaction of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.00% of the stock is owned by corporate insiders.

Pure Storage Stock Performance

PSTG opened at $47.69 on Wednesday. The company has a market capitalization of $15.55 billion, a P/E ratio of 125.51, a PEG ratio of 5.12 and a beta of 1.05. The company has a 50-day moving average of $46.03 and a 200-day moving average of $55.77. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Piper Sandler reduced their target price on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Evercore ISI dropped their price target on Pure Storage from $75.00 to $60.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. Finally, Bank of America dropped their target price on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.20.

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.

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