TT International Asset Management LTD Sells 28,685 Shares of Pure Storage, Inc. (NYSE:PSTG)

TT International Asset Management LTD decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 39.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,400 shares of the technology company’s stock after selling 28,685 shares during the quarter. TT International Asset Management LTD’s holdings in Pure Storage were worth $2,727,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nvwm LLC increased its stake in Pure Storage by 23.3% in the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after buying an additional 194 shares during the last quarter. Larson Financial Group LLC increased its stake in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after buying an additional 219 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Pure Storage by 3.6% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 7,461 shares of the technology company’s stock valued at $375,000 after buying an additional 259 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Pure Storage by 26.0% in the 3rd quarter. UMB Bank n.a. now owns 1,485 shares of the technology company’s stock valued at $75,000 after buying an additional 306 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSTG. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. UBS Group lifted their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Citigroup lifted their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Finally, Needham & Company LLC lifted their price objective on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.70.

Pure Storage Price Performance

PSTG stock opened at $64.88 on Monday. The firm’s 50-day moving average price is $58.41 and its two-hundred day moving average price is $56.71. Pure Storage, Inc. has a 12-month low of $35.35 and a 12-month high of $70.41. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 170.74, a PEG ratio of 7.69 and a beta of 1.09. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling at Pure Storage

In related news, 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 value 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. This represents 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 at this link. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,178 shares of company stock worth $14,603,746. 6.00% of the stock is currently owned by company insiders.

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.