State of Alaska Department of Revenue Sells 175 Shares of Pure Storage, Inc. (NYSE:PSTG)

State of Alaska Department of Revenue trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,495 shares of the technology company’s stock after selling 175 shares during the quarter. State of Alaska Department of Revenue’s holdings in Pure Storage were worth $2,180,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC lifted its position in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. State Street Corp lifted its position 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 purchasing an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Pure Storage by 3.2% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock worth $285,575,000 after purchasing an additional 177,559 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Pure Storage by 4.3% during the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock worth $269,798,000 after purchasing an additional 219,971 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position 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 purchasing an additional 747,034 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSTG has been the subject of several recent research reports. Stifel Nicolaus lifted their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Guggenheim lifted their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup lifted their price objective on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. TD Cowen lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $72.70.

Insider Transactions at Pure Storage

In related news, 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 sale, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,178 shares of company stock worth $8,871,746. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG stock opened at $70.94 on Tuesday. Pure Storage, Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $73.67. The firm has a market capitalization of $23.14 billion, a price-to-earnings ratio of 186.69, a PEG ratio of 5.26 and a beta of 1.09. The stock’s 50-day simple moving average is $64.89 and its 200-day simple moving average is $57.33.

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.