Pure Storage, Inc. (NYSE:PSTG) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,401 shares of the technology company’s stock after selling 201 shares during the quarter. US Bancorp DE’s holdings in Pure Storage were worth $7,949,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in Pure Storage in the 4th quarter valued at approximately $5,106,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Pure Storage in the 4th quarter valued at approximately $415,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Pure Storage by 1.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 63,369 shares of the technology company’s stock valued at $3,893,000 after buying an additional 800 shares in the last quarter. National Pension Service grew its holdings in Pure Storage by 6.0% during the fourth quarter. National Pension Service now owns 591,759 shares of the technology company’s stock worth $36,352,000 after acquiring an additional 33,600 shares during the period. Finally, ARK Investment Management LLC raised its position 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 worth $12,295,000 after acquiring an additional 4,976 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Performance

NYSE:PSTG opened at $50.12 on Wednesday. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The business’s 50-day simple moving average is $65.08 and its 200 day simple moving average is $58.01. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 131.89, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Analysts Set New Price Targets

Several equities research analysts have commented on PSTG shares. Lake Street Capital boosted their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen boosted their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Bank of America decreased their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents 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 the SEC website. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction 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 transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,178 shares of company stock valued at $2,316,746 in the last three months. Corporate insiders own 6.00% of the company’s stock.

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.