Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 12.6% in the fourth quarter, Holdings Channel reports. The firm owned 60,928 shares of the technology company’s stock after selling 8,783 shares during the period. Tidal Investments LLC’s holdings in Pure Storage were worth $3,743,000 as of its most recent SEC filing.

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

Pure Storage Price Performance

Shares of PSTG stock opened at $56.54 on Wednesday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The company has a market cap of $18.43 billion, a price-to-earnings ratio of 148.79, a PEG ratio of 5.12 and a beta of 1.05. The stock has a 50 day simple moving average of $46.81 and a 200-day simple moving average of $55.78.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $52.01, for a total value of $5,201,000.00. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 872 shares of Pure Storage stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $51.51, for a total value of $44,916.72. Following the completion of the sale, the executive now owns 89,351 shares in the company, valued at approximately $4,602,470.01. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,849 shares of company stock valued at $5,531,346. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PSTG. Piper Sandler dropped 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. Bank of America lowered their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Morgan Stanley upped their target price on Pure Storage from $40.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group raised their target price on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

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.