Globeflex Capital L P Sells 39,771 Shares of Pure Storage, Inc. (NYSE:PSTG)

Globeflex Capital L P lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 38.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,318 shares of the technology company’s stock after selling 39,771 shares during the period. Globeflex Capital L P’s holdings in Pure Storage were worth $3,890,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Citigroup Inc. raised its position in shares of Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 14,659 shares during the last quarter. TT International Asset Management LTD raised its position in Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after buying an additional 67,285 shares during the last quarter. FMR LLC raised its position in Pure Storage by 0.8% in the 3rd 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 last quarter. Sycomore Asset Management raised its position in Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after buying an additional 68,840 shares during the last quarter. Finally, Asio Capital LLC purchased a new position in Pure Storage in the 4th quarter worth about $264,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

NYSE PSTG opened at $50.99 on Friday. The company has a market capitalization of $16.63 billion, a P/E ratio of 134.17, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The stock has a 50 day moving average price of $62.86 and a 200-day moving average price of $57.38.

Insider Activity

In related news, insider Ajay Singh sold 19,972 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target 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. Wells Fargo & Company upped their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. TD Cowen upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus upped their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.20.

About Pure Storage

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.