Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,078 shares of the technology company’s stock after selling 826 shares during the period. Vinva Investment Management Ltd’s holdings in Pure Storage were worth $880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Citigroup Inc. raised its position in shares of Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after acquiring an additional 14,659 shares in the last quarter. TT International Asset Management LTD raised its position in shares of Pure Storage by 1,160.1% during the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after acquiring an additional 67,285 shares in the last quarter. FMR LLC grew its stake in Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after buying an additional 368,643 shares during the last quarter. Sycomore Asset Management grew its stake in Pure Storage by 57.8% during the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after buying an additional 68,840 shares during the last quarter. Finally, Asio Capital LLC bought a new position in Pure Storage during the 4th quarter worth $264,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of PSTG opened at $50.81 on Friday. The stock has a fifty day moving average price of $61.80 and a two-hundred day moving average price of $57.25. Pure Storage, Inc. has a 52-week low of $44.76 and a 52-week high of $73.67. The company has a market cap of $16.58 billion, a price-to-earnings ratio of 133.71, a PEG ratio of 5.12 and a beta of 1.09.

Insider Activity

In other news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The shares were 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 directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup lowered their price objective on Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Bank of America decreased their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. 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 note on Tuesday, December 17th. Finally, Evercore ISI increased their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average price target of $73.20.

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.