Schroder Investment Management Group Trims Holdings in Pure Storage, Inc. (NYSE:PSTG)

Schroder Investment Management Group reduced its stake in Pure Storage, Inc. (NYSE:PSTG) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 732,231 shares of the technology company’s stock after selling 66,779 shares during the quarter. Schroder Investment Management Group’s holdings in Pure Storage were worth $45,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PSTG. Sugar Maple Asset Management LLC purchased a new stake in shares of Pure Storage during the 4th quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage in the 4th quarter valued at $31,000. Berbice Capital Management LLC purchased a new position in shares of Pure Storage during the 4th quarter worth $37,000. Finally, Financial Life Planners acquired a new stake in shares of Pure Storage during the 4th quarter worth about $44,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Down 3.9 %

NYSE:PSTG opened at $44.22 on Tuesday. The company has a market capitalization of $14.43 billion, a PE ratio of 116.38, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 52-week low of $43.43 and a 52-week high of $73.67. The stock’s 50 day moving average price is $59.65 and its 200 day moving average price is $57.47.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Lake Street Capital increased their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group boosted their target price on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Thursday, February 27th. Barclays raised their price target on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Finally, Northland Securities reiterated a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.