Pure Storage, Inc. (NYSE:PSTG) Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 164,445 shares of the technology company’s stock after selling 2,541 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Pure Storage worth $10,102,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Cherry Creek Investment Advisors Inc. raised its stake in Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after acquiring an additional 189 shares in the last quarter. Nvwm LLC increased its holdings in shares of Pure Storage by 23.3% during the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after purchasing an additional 194 shares during the period. Larson Financial Group LLC raised its stake in shares of 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. Venturi Wealth Management LLC lifted its holdings in 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 during the period. Finally, Brookstone Capital Management grew its position in Pure Storage by 3.1% in the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock valued at $486,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the company’s stock in a transaction that occurred 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 owns 67,681 shares in the company, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,178 shares of company stock valued at $8,871,746 over the last quarter. Company insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Pure Storage stock opened at $52.42 on Friday. Pure Storage, Inc. has a 52 week low of $44.76 and a 52 week high of $73.67. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 137.95, a P/E/G ratio of 5.12 and a beta of 1.09. The company has a 50 day moving average price of $65.66 and a 200 day moving average price of $58.20.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $56.00 to $76.00 in a research report on Wednesday, December 4th. Northland Securities reissued a “market perform” rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Thursday. Finally, Barclays raised their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage 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.