State of Alaska Department of Revenue Trims Position in Pure Storage, Inc. (NYSE:PSTG)

State of Alaska Department of Revenue trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,495 shares of the technology company’s stock after selling 175 shares during the period. State of Alaska Department of Revenue’s holdings in Pure Storage were worth $2,180,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its stake in shares of Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Pure Storage by 22.5% in the 3rd 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 purchasing an additional 747,034 shares during the period. State Street Corp lifted its stake in shares of Pure Storage by 6.5% in the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after purchasing an additional 626,427 shares during the period. World Investment Advisors LLC bought a new position in shares of Pure Storage in the 3rd quarter worth approximately $20,470,000. Finally, FMR LLC lifted its stake in shares of 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 purchasing an additional 368,643 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Performance

PSTG stock opened at $70.94 on Tuesday. The firm has a fifty day moving average price of $64.89 and a 200 day moving average price of $57.33. Pure Storage, Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $73.67. The firm has a market cap of $23.14 billion, a PE ratio of 186.69, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSTG. Stifel Nicolaus increased their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Guggenheim increased their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Evercore ISI raised their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC raised their target price on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays raised their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on 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 transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of Pure Storage 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 directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is owned by corporate insiders.

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.