Mitsubishi UFJ Trust & Banking Corp Decreases Stake in Pure Storage, Inc. (NYSE:PSTG)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,568 shares of the technology company’s stock after selling 4,377 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Pure Storage were worth $8,451,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PSTG. Sugar Maple Asset Management LLC acquired a new position in Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc acquired a new position in shares of Pure Storage during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in shares of Pure Storage in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC increased its holdings in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the last quarter. Finally, Berbice Capital Management LLC purchased a new position in Pure Storage during the fourth quarter worth approximately $37,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Down 5.0 %

Shares of PSTG stock opened at $46.00 on Friday. The firm has a 50 day moving average of $60.09 and a two-hundred day moving average of $57.43. The stock has a market capitalization of $15.01 billion, a PE ratio of 121.04, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This 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 the SEC website. 6.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several analyst reports. UBS Group upped their target price on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. Barclays raised their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley upped their price objective on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

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.