Quantbot Technologies LP Decreases Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Quantbot Technologies LP lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 76.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,551 shares of the technology company’s stock after selling 51,748 shares during the quarter. Quantbot Technologies LP’s holdings in Pure Storage were worth $955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PSTG. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage during the 4th quarter valued at $29,000. Compass Financial Services Inc bought a new stake in Pure Storage during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC increased its holdings in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares during the last quarter. Berbice Capital Management LLC bought a new position in Pure Storage in the fourth quarter worth approximately $37,000. Finally, Financial Life Planners purchased a new position in shares of Pure Storage during the 4th quarter worth $44,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $52.96 on Wednesday. The stock has a market capitalization of $17.28 billion, a P/E ratio of 139.37, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 1-year low of $44.76 and a 1-year high of $73.67. The business’s 50 day moving average is $61.12 and its two-hundred day moving average is $57.47.

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

PSTG has been the subject of several analyst reports. Northland Securities restated a “market perform” rating and issued a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Morgan Stanley upped their price target on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus increased their price target on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, TD Cowen lifted their target price on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company 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.