Yousif Capital Management LLC Decreases Holdings in Pure Storage, Inc. (NYSE:PSTG)

Yousif Capital Management LLC lowered its position in Pure Storage, Inc. (NYSE:PSTG) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,060 shares of the technology company’s stock after selling 3,869 shares during the quarter. Yousif Capital Management LLC’s holdings in Pure Storage were worth $6,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PSTG. Franklin Resources Inc. boosted its stake in shares of Pure Storage by 210.2% in the 3rd 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after buying an additional 747,034 shares during the period. State Street Corp boosted its position in Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after buying an additional 626,427 shares during the period. World Investment Advisors LLC bought a new position in shares of Pure Storage during the third quarter valued at about $20,470,000. Finally, FMR LLC increased its holdings in shares of Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after buying an additional 368,643 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSTG. Northland Securities restated a “market perform” rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Oppenheimer assumed coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 target price on the stock. Citigroup increased their price target on shares of Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, UBS Group increased their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the transaction, the executive now directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock worth $8,871,746 in the last 90 days. Insiders own 6.00% of the company’s stock.

Pure Storage Price Performance

NYSE:PSTG opened at $69.75 on Friday. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67. The company’s 50-day simple moving average is $64.23 and its 200 day simple moving average is $57.22. The firm has a market capitalization of $22.76 billion, a P/E ratio of 183.56, a PEG ratio of 8.18 and a beta of 1.09.

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.