Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. trimmed its stake in Pure Storage, Inc. (NYSE:PSTG) by 11.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,266,738 shares of the technology company’s stock after selling 164,562 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 0.39% of Pure Storage worth $77,816,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PSTG. William Blair Investment Management LLC boosted its position in Pure Storage by 1,725.3% during the fourth quarter. William Blair Investment Management LLC now owns 2,525,208 shares of the technology company’s stock valued at $155,124,000 after purchasing an additional 2,386,864 shares during the last quarter. Franklin Resources Inc. boosted its position in Pure Storage by 210.2% during the third 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in Pure Storage during the fourth quarter valued at $70,971,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after buying an additional 747,034 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after buying an additional 626,427 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the company’s 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 transaction, the insider now owns 262,144 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the sale, the executive now owns 72,927 shares of the company’s stock, 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. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PSTG. Barclays boosted their price target on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. UBS Group boosted their price target on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Citigroup reduced their price target 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. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

Pure Storage Price Performance

Shares of PSTG opened at $50.99 on Monday. The company has a market capitalization of $16.63 billion, a P/E ratio of 134.17, a PEG 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 business’s 50 day simple moving average is $62.86 and its 200-day simple moving average is $57.34.

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.