Pictet Asset Management Holding SA Reduces Holdings in Pure Storage, Inc. (NYSE:PSTG)

Pictet Asset Management Holding SA cut its position in Pure Storage, Inc. (NYSE:PSTG) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,106 shares of the technology company’s stock after selling 4,863 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Pure Storage were worth $7,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage in the 4th quarter worth $29,000. Compass Financial Services Inc purchased a new position in Pure Storage in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. acquired a new stake in Pure Storage during the 4th quarter valued at approximately $31,000. Berbice Capital Management LLC acquired a new stake in Pure Storage during the 4th quarter valued at approximately $37,000. Finally, Financial Life Planners purchased a new stake in Pure Storage during the 4th quarter worth approximately $44,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Trading Down 11.3 %

NYSE PSTG opened at $40.82 on Friday. The company has a 50-day moving average price of $57.99 and a two-hundred day moving average price of $57.25. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 107.41, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 52 week low of $40.74 and a 52 week high of $73.67.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. UBS Group raised their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Thursday, February 27th. Bank of America dropped their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their price objective on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.