Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.0% during the fourth quarter, Holdings Channel reports. The fund owned 116,106 shares of the technology company’s stock after selling 4,863 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Pure Storage were worth $7,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PSTG. TT International Asset Management LTD lifted its position in Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after buying an additional 67,285 shares in the last quarter. Sycomore Asset Management increased its stake in shares of Pure Storage by 57.8% in the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after acquiring an additional 68,840 shares during the last quarter. Asio Capital LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth $264,000. Oak Thistle LLC acquired a new stake in Pure Storage during the fourth quarter valued at $1,196,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after buying an additional 1,730,123 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of recent research reports. StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Citigroup reduced their target price on Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Bank of America reduced their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Finally, UBS Group raised their target price on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. 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.com, the company has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Trading Down 11.3 %

PSTG opened at $40.82 on Friday. The stock has a market cap of $13.32 billion, a PE ratio of 107.41, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 1 year low of $40.74 and a 1 year high of $73.67. The stock’s 50 day simple moving average is $57.99 and its 200-day simple moving average is $57.25.

About Pure Storage

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.