Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE trimmed its stake in Pure Storage, Inc. (NYSE:PSTG) by 1.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 242,673 shares of the technology company’s stock after selling 4,564 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.07% of Pure Storage worth $14,907,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PSTG. FMR LLC raised its holdings in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after acquiring an additional 368,643 shares during the period. Vanguard Group Inc. grew its position in Pure Storage by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock worth $2,054,448,000 after purchasing an additional 615,931 shares in the last quarter. State Street Corp raised its stake in Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after purchasing an additional 626,427 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in Pure Storage by 3.2% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock worth $285,575,000 after acquiring an additional 177,559 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Pure Storage by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock worth $269,798,000 after acquiring an additional 219,971 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Up 3.4 %

PSTG opened at $52.89 on Tuesday. The stock’s 50 day moving average price is $61.33 and its two-hundred day moving average price is $57.42. The firm has a market capitalization of $17.25 billion, a P/E ratio of 139.19, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12-month low of $44.76 and a 12-month high of $73.67.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PSTG. Morgan Stanley increased their price target on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. TD Cowen increased their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. Finally, Citigroup reduced their price objective on Pure Storage from $80.00 to $77.00 and set a “buy” 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 issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $73.20.

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.