Corient Private Wealth LLC Sells 4,007 Shares of Pure Storage, Inc. (NYSE:PSTG)

Corient Private Wealth LLC trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 15.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,334 shares of the technology company’s stock after selling 4,007 shares during the period. Corient Private Wealth LLC’s holdings in Pure Storage were worth $1,372,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its stake in Pure Storage by 15.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,809 shares of the technology company’s stock valued at $725,000 after acquiring an additional 1,601 shares during the period. Avalon Trust Co acquired a new stake in Pure Storage in the 4th quarter valued at $106,000. Natixis Advisors LLC grew its position in Pure Storage by 85.6% in the 4th quarter. Natixis Advisors LLC now owns 110,834 shares of the technology company’s stock valued at $6,809,000 after purchasing an additional 51,127 shares during the period. Commonwealth Equity Services LLC raised its holdings in Pure Storage by 14.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 39,856 shares of the technology company’s stock worth $2,448,000 after buying an additional 5,163 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. lifted its stake in shares of Pure Storage by 12.5% in the fourth quarter. Bowen Hanes & Co. Inc. now owns 900,000 shares of the technology company’s stock valued at $55,287,000 after buying an additional 100,000 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PSTG shares. UBS Group boosted their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Morgan Stanley boosted their price objective on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. Evercore ISI upped their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, TD Cowen raised their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. 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. Based on data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

Insider Transactions at Pure Storage

In related news, 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 transaction of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is owned by corporate insiders.

Pure Storage Price Performance

NYSE:PSTG opened at $52.96 on Wednesday. The company has a market capitalization of $17.28 billion, a P/E ratio of 139.37, a P/E/G ratio of 5.12 and a beta of 1.09. The business has a fifty day simple moving average of $61.12 and a two-hundred day simple moving average of $57.47. Pure Storage, Inc. has a 1 year low of $44.76 and a 1 year high of $73.67.

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.