CHICAGO TRUST Co NA Cuts Position in Pure Storage, Inc. (NYSE:PSTG)

CHICAGO TRUST Co NA lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,700 shares of the technology company’s stock after selling 1,040 shares during the period. CHICAGO TRUST Co NA’s holdings in Pure Storage were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sycomore Asset Management purchased a new stake in shares of Pure Storage in the 2nd quarter worth about $2,259,000. Citigroup Inc. lifted its holdings in shares of Pure Storage by 11.3% in the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after purchasing an additional 14,659 shares in the last quarter. TT International Asset Management LTD grew its position in shares of Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after purchasing an additional 67,285 shares during the last quarter. FMR LLC increased its stake in shares of Pure Storage by 0.8% during 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. Finally, Bank of Montreal Can raised 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 purchasing an additional 92,762 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the sale, the insider now directly owns 300,000 shares in the company, valued at approximately $17,196,000. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,178 shares of company stock valued at $14,603,746. Company insiders own 6.00% of the company’s stock.

Pure Storage Trading Down 3.2 %

NYSE PSTG opened at $62.65 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. Pure Storage, Inc. has a one year low of $35.35 and a one year high of $70.41. The company’s 50 day moving average price is $58.67 and its 200 day moving average price is $56.70. The firm has a market capitalization of $20.44 billion, a price-to-earnings ratio of 164.87, a PEG ratio of 7.69 and a beta of 1.09.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PSTG. Wells Fargo & Company increased their target price on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their price objective on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen upped their target price 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. Stifel Nicolaus lifted their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, UBS Group upped their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.70.

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.