Handelsbanken Fonder AB Sells 5,500 Shares of Pure Storage, Inc. (NYSE:PSTG)

Handelsbanken Fonder AB lowered its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 6.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 83,553 shares of the technology company’s stock after selling 5,500 shares during the period. Handelsbanken Fonder AB’s holdings in Pure Storage were worth $5,133,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Pure Storage in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new position in Pure Storage during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC raised its position 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 purchasing an additional 212 shares in the last quarter. Berbice Capital Management LLC acquired a new position in Pure Storage during the fourth quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC raised its position in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares in the company, valued at $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 SEC, which is available through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock worth $8,871,746 in the last three months. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PSTG shares. TD Cowen boosted their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Oppenheimer began coverage on Pure Storage in a report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price objective for the company. Citigroup increased their price target on Pure Storage from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.95.

Pure Storage Trading Down 3.9 %

PSTG stock opened at $65.14 on Monday. The company’s 50 day moving average is $66.23 and its two-hundred day moving average is $58.16. The stock has a market cap of $21.25 billion, a P/E ratio of 171.43, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a twelve month low of $40.32 and a twelve month high of $73.67.

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.