Pacer Advisors Inc. Sells 14,882 Shares of Pure Storage, Inc. (NYSE:PSTG)

Pacer Advisors Inc. reduced its stake in Pure Storage, Inc. (NYSE:PSTGFree Report) by 18.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 63,966 shares of the technology company’s stock after selling 14,882 shares during the quarter. Pacer Advisors Inc.’s holdings in Pure Storage were worth $3,929,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in 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 acquiring an additional 14,659 shares in the last quarter. TT International Asset Management LTD raised its position in shares of 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 worth $3,671,000 after purchasing an additional 67,285 shares during the last quarter. FMR LLC boosted 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 worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Asio Capital LLC purchased a new stake in Pure Storage during the 4th quarter valued at about $264,000. Finally, Bank of Montreal Can increased its stake in Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after purchasing an additional 92,762 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $68.37 on Friday. The firm’s 50 day simple moving average is $62.70 and its two-hundred day simple moving average is $57.00. The company has a market capitalization of $22.31 billion, a P/E ratio of 179.93, a P/E/G ratio of 8.72 and a beta of 1.09. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of recent analyst reports. TD Cowen increased their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim increased their target price on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price target for the company. Barclays increased their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their price target 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. One equities 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

Check Out Our Latest Analysis on Pure Storage

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value 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. The trade was a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by corporate insiders.

About Pure Storage

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PSTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pure Storage, Inc. (NYSE:PSTGFree Report).

Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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