TT International Asset Management LTD Cuts Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

TT International Asset Management LTD decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 39.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,400 shares of the technology company’s stock after selling 28,685 shares during the period. TT International Asset Management LTD’s holdings in Pure Storage were worth $2,727,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSTG. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the third quarter valued at approximately $31,000. Larson Financial Group LLC boosted 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. Venturi Wealth Management LLC boosted its holdings in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares during the last quarter. nVerses Capital LLC purchased a new stake in Pure Storage in the third quarter worth approximately $50,000. Finally, Covestor Ltd boosted its holdings in Pure Storage by 175.3% in the third quarter. Covestor Ltd now owns 991 shares of the technology company’s stock worth $50,000 after purchasing an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 237,178 shares of company stock valued at $14,603,746. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

PSTG opened at $64.88 on Monday. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 170.74, a PEG ratio of 7.69 and a beta of 1.09. The company has a fifty day moving average of $58.41 and a 200 day moving average of $56.71. Pure Storage, Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77.

Analyst Ratings Changes

Several brokerages recently issued reports on PSTG. Oppenheimer began coverage on shares of Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 target price on the stock. William Blair restated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Barclays raised their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Finally, 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 report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

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.