Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Diversified Trust Co

Diversified Trust Co trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,046 shares of the technology company’s stock after selling 1,974 shares during the period. Diversified Trust Co’s holdings in Pure Storage were worth $2,829,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PSTG. Nvwm LLC raised its holdings in Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after acquiring an additional 194 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Pure Storage by 49.1% during 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 lifted its position in shares of Pure Storage by 40.9% during 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. Bank Pictet & Cie Europe AG grew its stake in Pure Storage by 3.6% in the third quarter. Bank Pictet & Cie Europe AG now owns 7,461 shares of the technology company’s stock worth $375,000 after purchasing an additional 259 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Pure Storage by 26.0% in the third quarter. UMB Bank n.a. now owns 1,485 shares of the technology company’s stock valued at $75,000 after buying an additional 306 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Stock Performance

Shares of PSTG opened at $62.96 on Wednesday. The firm has a market capitalization of $20.54 billion, a PE ratio of 165.69, a P/E/G ratio of 7.69 and a beta of 1.09. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $57.64 and a 200 day moving average price of $56.68. Pure Storage, Inc. has a 52-week low of $35.35 and a 52-week high of $70.41.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction 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 sale, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 237,178 shares of company stock valued at $14,603,746. Company insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Guggenheim increased their target price on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Citigroup increased their target price on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted 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, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.70.

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.