Pure Storage, Inc. (NYSE:PSTG) Holdings Decreased by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its holdings in Pure Storage, Inc. (NYSE:PSTG) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,556 shares of the technology company’s stock after selling 422 shares during the period. QRG Capital Management Inc.’s holdings in Pure Storage were worth $833,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. lifted its position in shares of Pure Storage by 11.3% in the third 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 in the last quarter. TT International Asset Management LTD increased its stake 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 valued at $3,671,000 after buying an additional 67,285 shares during the period. FMR LLC increased its stake in Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after buying an additional 368,643 shares during the period. Sycomore Asset Management boosted its stake in shares of Pure Storage by 57.8% during the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after buying an additional 68,840 shares during the period. Finally, Asio Capital LLC acquired a new position in shares of Pure Storage in the fourth quarter worth $264,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Down 5.7 %

PSTG opened at $49.50 on Tuesday. The stock’s 50 day moving average price is $65.37 and its two-hundred day moving average price is $58.09. The firm has a market capitalization of $16.15 billion, a P/E ratio of 130.27, 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 Activity

In other news, CAO Mona Chu sold 8,311 shares of the business’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 transaction, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the sale, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of research reports. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Wells Fargo & Company lifted their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Lake Street Capital boosted their price target on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Northland Securities reaffirmed a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, TD Cowen boosted 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target 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.