Stifel Financial Corp Cuts Holdings in Pure Storage, Inc. (NYSE:PSTG)

Stifel Financial Corp cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 15.0% during the third quarter, Holdings Channel reports. The institutional investor owned 119,814 shares of the technology company’s stock after selling 21,223 shares during the quarter. Stifel Financial Corp’s holdings in Pure Storage were worth $6,019,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PSTG. FMR LLC increased its holdings in Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after buying an additional 368,643 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in Pure Storage by 56.1% in the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after purchasing an additional 1,327,873 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Pure Storage by 3.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,861,621 shares of the technology company’s stock valued at $143,768,000 after buying an additional 93,106 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Pure Storage by 0.7% during the 2nd quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock worth $151,405,000 after buying an additional 15,747 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PSTG shares. Guggenheim increased their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Oppenheimer assumed coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective for the company. Raymond James reduced their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. TD Cowen raised their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Susquehanna restated a “positive” rating and issued a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

Insider Transactions at Pure Storage

In other news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. The trade was a 8.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the 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 sale, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 454,542 shares of company stock valued at $25,154,030. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Up 1.9 %

PSTG stock opened at $63.70 on Friday. The company has a market capitalization of $20.87 billion, a P/E ratio of 167.64, a PEG ratio of 7.48 and a beta of 1.13. The firm has a 50 day simple moving average of $54.29 and a 200-day simple moving average of $56.89. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a twelve month low of $34.32 and a twelve month high of $70.41.

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.