State of Tennessee Department of Treasury Has $7.61 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

State of Tennessee Department of Treasury decreased its position in Pure Storage, Inc. (NYSE:PSTG) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,933 shares of the technology company’s stock after selling 3,497 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Pure Storage were worth $7,613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sycomore Asset Management increased its holdings in shares of Pure Storage by 57.8% in the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock valued at $11,541,000 after purchasing an additional 68,840 shares during the last quarter. Asio Capital LLC acquired a new stake in Pure Storage during the fourth quarter worth approximately $264,000. Oak Thistle LLC acquired a new stake in Pure Storage during the fourth quarter worth approximately $1,196,000. Franklin Resources Inc. grew its position in shares of Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Pure Storage by 23.5% during the fourth quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company’s stock worth $17,486,000 after purchasing an additional 54,256 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on PSTG. UBS Group upped their price objective on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Citigroup cut their price objective on shares of Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a report on Monday, April 14th. Piper Sandler decreased their target price on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America dropped their price target 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and an average price target of $70.95.

Pure Storage Trading Up 5.6 %

PSTG opened at $45.11 on Friday. The company has a market cap of $14.71 billion, a P/E ratio of 118.71, a PEG ratio of 5.12 and a beta of 1.08. The company’s 50 day moving average is $48.81 and its 200-day moving average is $56.17. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the sale, the executive now directly owns 90,223 shares of the company’s stock, valued at approximately $3,691,022.93. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.00% of the company’s stock.

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.