Bleakley Financial Group LLC Sells 304 Shares of Pure Storage, Inc. (NYSE:PSTG)

Bleakley Financial Group LLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 5.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,284 shares of the technology company’s stock after selling 304 shares during the quarter. Bleakley Financial Group LLC’s holdings in Pure Storage were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nvwm LLC increased its stake in shares of Pure Storage by 91.7% during the fourth quarter. Nvwm LLC now owns 1,969 shares of the technology company’s stock worth $121,000 after purchasing an additional 942 shares during the period. Retirement Systems of Alabama increased its stake in shares of Pure Storage by 0.9% during the fourth quarter. Retirement Systems of Alabama now owns 378,523 shares of the technology company’s stock worth $23,253,000 after purchasing an additional 3,195 shares during the period. Sargent Investment Group LLC bought a new position in shares of Pure Storage during the fourth quarter worth approximately $549,000. Trust Point Inc. bought a new position in shares of Pure Storage during the fourth quarter worth approximately $202,000. Finally, Financial Life Planners bought a new position in shares of Pure Storage during the fourth quarter worth approximately $44,000. 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 dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the transaction, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the transaction, the executive now owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock valued at $8,871,746 in the last three months. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Citigroup increased their target price on Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley increased their price target on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Lake Street Capital increased their price target on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price target on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Trading Down 5.0 %

PSTG stock opened at $67.40 on Wednesday. The stock has a 50-day moving average price of $65.25 and a 200-day moving average price of $57.42. Pure Storage, Inc. has a 1-year low of $38.78 and a 1-year high of $73.67. The firm has a market cap of $21.99 billion, a PE ratio of 177.36, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09.

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.