Stephens Investment Management Group LLC Sells 12,637 Shares of Pure Storage, Inc. (NYSE:PSTG)

Stephens Investment Management Group LLC trimmed its stake in Pure Storage, Inc. (NYSE:PSTG) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,130,197 shares of the technology company’s stock after selling 12,637 shares during the period. Stephens Investment Management Group LLC’s holdings in Pure Storage were worth $69,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage during the 4th quarter worth $29,000. Berbice Capital Management LLC bought a new stake in Pure Storage during the 4th quarter valued at $37,000. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the 3rd quarter worth $31,000. Larson Financial Group LLC grew its stake in Pure Storage by 49.1% in 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 during the last quarter. Finally, Financial Life Planners purchased a new stake in shares of Pure Storage during the fourth quarter valued at about $44,000. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PSTG. JPMorgan Chase & Co. boosted their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup raised their price target on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating 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 report on Wednesday, December 4th. Finally, Stifel Nicolaus raised their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Insider Activity

In related news, 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 transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock worth $8,871,746 over the last three months. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG opened at $69.08 on Friday. The stock has a 50 day moving average price of $64.89 and a 200 day moving average price of $57.36. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 181.78, a PEG ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67.

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.