Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 19.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 746,594 shares of the technology company’s stock after selling 175,450 shares during the quarter. Nuveen Asset Management LLC’s holdings in Pure Storage were worth $45,863,000 at the end of the most recent quarter.

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

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $56.28 on Tuesday. The stock has a market cap of $18.35 billion, a price-to-earnings ratio of 148.11, a PEG ratio of 5.12 and a beta of 1.05. The business has a 50 day simple moving average of $46.65 and a 200 day simple moving average of $55.77. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Bank of America dropped their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Citigroup boosted their price target on shares of Pure Storage from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group boosted their price target on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.70.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,977 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the transaction, the executive now directly owns 90,223 shares in the company, valued at $3,691,022.93. The trade was a 7.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $52.01, for a total value of $5,201,000.00. Following the transaction, the insider now owns 801,959 shares of the company’s stock, valued at approximately $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,849 shares of company stock valued at $5,531,346 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

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.