Corebridge Financial Inc. Sells 13,209 Shares of Pure Storage, Inc. (NYSE:PSTG)

Corebridge Financial Inc. cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 355,297 shares of the technology company’s stock after selling 13,209 shares during the period. Corebridge Financial Inc.’s holdings in Pure Storage were worth $21,826,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PSTG. Sugar Maple Asset Management LLC bought a new stake in shares of Pure Storage in the 4th quarter valued at about $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Pure Storage in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after purchasing an additional 212 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new position in shares of Pure Storage during the fourth quarter worth $37,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSTG has been the subject of a number of research analyst reports. Northland Securities reiterated a “market perform” rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. TD Cowen boosted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Bank of America decreased their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Up 3.4 %

PSTG stock opened at $52.89 on Tuesday. Pure Storage, Inc. has a 52-week low of $44.76 and a 52-week high of $73.67. The firm has a market cap of $17.25 billion, a P/E ratio of 139.19, a PEG ratio of 5.12 and a beta of 1.09. The company’s 50-day simple moving average is $61.33 and its 200-day simple moving average is $57.42.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the business’s 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 completion of the sale, the insider now owns 262,144 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by insiders.

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.