United Services Automobile Association Cuts Holdings in Pure Storage, Inc. (NYSE:PSTG)

United Services Automobile Association lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 14.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,373 shares of the technology company’s stock after selling 3,558 shares during the period. United Services Automobile Association’s holdings in Pure Storage were worth $1,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its position in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the third quarter valued at about $31,000. FSC Wealth Advisors LLC purchased a new position in shares of Pure Storage in the 2nd quarter worth approximately $33,000. ORG Partners LLC bought a new position in shares of Pure Storage during the 2nd quarter worth approximately $35,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PSTG shares. Barclays lifted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Citigroup lifted their target price on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus upped their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Lake Street Capital boosted their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and a consensus target price of $72.10.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’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 directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 454,542 shares of company stock valued at $25,154,030 in the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Stock Up 3.8 %

PSTG stock opened at $64.92 on Friday. Pure Storage, Inc. has a one year low of $31.90 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.77. The firm’s fifty day moving average is $53.04 and its 200 day moving average is $56.83. The firm has a market cap of $21.27 billion, a PE ratio of 170.85, a P/E/G ratio of 8.87 and a beta of 1.13.

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.