Pure Storage, Inc. (NYSE:PSTG) Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,284 shares of the technology company’s stock after selling 2,211 shares during the period. GraniteShares Advisors LLC’s holdings in Pure Storage were worth $509,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. ARK Investment Management LLC increased its holdings in Pure Storage by 2.5% in the fourth quarter. ARK Investment Management LLC now owns 200,149 shares of the technology company’s stock valued at $12,295,000 after buying an additional 4,976 shares in the last quarter. Amalgamated Bank grew its position in shares of Pure Storage by 0.7% in the fourth quarter. Amalgamated Bank now owns 151,534 shares of the technology company’s stock valued at $9,309,000 after purchasing an additional 1,065 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Pure Storage by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,508,029 shares of the technology company’s stock worth $215,498,000 after acquiring an additional 9,985 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Pure Storage during the fourth quarter worth approximately $1,253,000. Finally, Peregrine Asset Advisers Inc. acquired a new stake in Pure Storage during the fourth quarter worth approximately $2,537,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s 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. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock valued at $8,871,746 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Evercore ISI raised their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Oppenheimer started coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Northland Securities reaffirmed a “market perform” rating and set a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, UBS Group boosted their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. One research 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’s stock. According to MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and a consensus target price of $72.95.

Pure Storage Stock Performance

NYSE PSTG opened at $61.35 on Wednesday. The company has a 50-day simple moving average of $66.09 and a 200-day simple moving average of $58.25. The firm has a market capitalization of $20.02 billion, a PE ratio of 161.46, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a one year low of $40.79 and a one year high of $73.67.

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.