Illinois Municipal Retirement Fund Sells 13,710 Shares of Pure Storage, Inc. (NYSE:PSTG)

Illinois Municipal Retirement Fund lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 96,725 shares of the technology company’s stock after selling 13,710 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Pure Storage were worth $5,942,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Creative Planning increased its holdings in Pure Storage by 39.7% in the 3rd quarter. Creative Planning now owns 27,399 shares of the technology company’s stock worth $1,377,000 after purchasing an additional 7,780 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Pure Storage by 2,507.0% during the third quarter. International Assets Investment Management LLC now owns 108,267 shares of the technology company’s stock worth $5,439,000 after purchasing an additional 104,114 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pure Storage by 363.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,553 shares of the technology company’s stock valued at $275,000 after buying an additional 4,356 shares during the period. Forsta AP Fonden increased its stake in shares of Pure Storage by 16.2% in the third quarter. Forsta AP Fonden now owns 67,500 shares of the technology company’s stock valued at $3,391,000 after buying an additional 9,400 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in Pure Storage by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 35,670 shares of the technology company’s stock valued at $1,792,000 after buying an additional 2,435 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PSTG shares. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Stifel Nicolaus boosted their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Oppenheimer assumed coverage on Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective for the company. UBS Group lifted their target price on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. Finally, Barclays increased their price target on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.95.

Pure Storage Trading Up 1.9 %

NYSE:PSTG opened at $62.49 on Thursday. Pure Storage, Inc. has a 12 month low of $40.95 and a 12 month high of $73.67. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of 164.45, a PEG ratio of 5.12 and a beta of 1.09. The firm has a fifty day simple moving average of $66.09 and a two-hundred day simple moving average of $58.28.

Insider Transactions at Pure Storage

In other news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares in the company, 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 have sold 137,178 shares of company stock valued at $8,871,746 in the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage 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.