Left Brain Wealth Management LLC Sells 451 Shares of Pure Storage, Inc. (NYSE:PSTG)

Left Brain Wealth Management LLC trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 114,035 shares of the technology company’s stock after selling 451 shares during the quarter. Pure Storage makes up 2.6% of Left Brain Wealth Management LLC’s holdings, making the stock its 12th largest holding. Left Brain Wealth Management LLC’s holdings in Pure Storage were worth $7,005,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PSTG. Franklin Resources Inc. increased its stake in Pure Storage by 210.2% during 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of Pure Storage during the fourth quarter worth about $70,971,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Pure Storage by 22.5% during the third 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 buying an additional 747,034 shares in the last quarter. State Street Corp grew its holdings in shares of Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after buying an additional 626,427 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in shares of Pure Storage during the third quarter worth about $20,470,000. 83.42% of the stock is owned by institutional investors.

Insider Activity

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated 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 completion of the sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $48.55 on Friday. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 127.77, a P/E/G ratio of 5.12 and a beta of 1.09. The stock’s fifty day moving average price is $63.13 and its two-hundred day moving average price is $57.45. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PSTG shares. Lake Street Capital raised their price objective on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays raised their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Northland Securities restated a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

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.