Lindbrook Capital LLC Trims Stake in Pure Storage, Inc. (NYSE:PSTG)

Lindbrook Capital LLC reduced its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 36.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 563 shares of the technology company’s stock after selling 324 shares during the period. Lindbrook Capital LLC’s holdings in Pure Storage were worth $35,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage in the fourth quarter worth $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage in the fourth quarter worth $29,000. Larson Financial Group LLC increased its stake in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after purchasing an additional 212 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Pure Storage in the fourth quarter worth $37,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. TD Cowen increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. 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. UBS Group upped 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. Finally, Evercore ISI upped their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Up 0.8 %

PSTG stock opened at $49.34 on Friday. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67. The company has a fifty day simple moving average of $64.22 and a two-hundred day simple moving average of $57.79. The firm has a market capitalization of $16.09 billion, a P/E ratio of 129.83, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction dated 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 owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,178 shares of company stock worth $2,316,746 over the last 90 days. 6.00% of the stock is owned by insiders.

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.