Vinva Investment Management Ltd Trims Position in Pure Storage, Inc. (NYSE:PSTG)

Vinva Investment Management Ltd lessened its stake in Pure Storage, Inc. (NYSE:PSTG) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,078 shares of the technology company’s stock after selling 826 shares during the period. Vinva Investment Management Ltd’s holdings in Pure Storage were worth $880,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in Pure Storage by 6.9% during the 3rd quarter. Victory Capital Management Inc. now owns 230,393 shares of the technology company’s stock worth $11,575,000 after acquiring an additional 14,901 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Pure Storage by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 9,179 shares of the technology company’s stock valued at $461,000 after buying an additional 312 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Pure Storage by 0.3% in the 3rd quarter. Swiss National Bank now owns 917,000 shares of the technology company’s stock valued at $46,070,000 after buying an additional 3,100 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Pure Storage in the 3rd quarter valued at about $613,000. Finally, Prospera Financial Services Inc boosted its holdings in shares of Pure Storage by 22.9% in the 3rd quarter. Prospera Financial Services Inc now owns 4,960 shares of the technology company’s stock valued at $249,000 after buying an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PSTG shares. TD Cowen raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price 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. Morgan Stanley lifted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Finally, Northland Securities reiterated a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

Pure Storage Trading Down 1.4 %

Shares of PSTG stock opened at $50.81 on Friday. The firm has a 50-day moving average price of $61.80 and a 200 day moving average price of $57.25. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The company has a market capitalization of $16.58 billion, a price-to-earnings ratio of 133.71, a PEG ratio of 5.12 and a beta of 1.09.

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.