Pacer Advisors Inc. Sells 14,882 Shares of Pure Storage, Inc. (NYSE:PSTG)

Pacer Advisors Inc. lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 18.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,966 shares of the technology company’s stock after selling 14,882 shares during the quarter. Pacer Advisors Inc.’s holdings in Pure Storage were worth $3,929,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Citigroup Inc. raised its holdings in shares of Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after acquiring an additional 14,659 shares during the last quarter. TT International Asset Management LTD boosted its holdings in Pure Storage by 1,160.1% during the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after purchasing an additional 67,285 shares during the last quarter. FMR LLC grew its position in Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Asio Capital LLC purchased a new stake in Pure Storage in the 4th quarter valued at about $264,000. Finally, Bank of Montreal Can lifted its position in shares of Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock worth $9,570,000 after buying an additional 92,762 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Trading Up 1.1 %

Shares of PSTG opened at $68.37 on Friday. The stock has a 50-day moving average price of $62.70 and a 200-day moving average price of $57.00. The company has a market cap of $22.31 billion, a PE ratio of 179.93, a price-to-earnings-growth ratio of 8.72 and a beta of 1.09. Pure Storage, Inc. has a 12-month low of $38.78 and a 12-month high of $73.67.

Insider Transactions at Pure Storage

In other news, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total value of $6,555,000.00. Following the completion of the transaction, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of research analyst reports. Northland Securities reaffirmed a “market perform” rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. TD Cowen lifted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays increased their price target on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. UBS Group lifted their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer initiated coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

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.