Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 200 Shares of Pure Storage, Inc. (NYSE:PSTG)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Pure Storage, Inc. (NYSE:PSTG) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,100 shares of the technology company’s stock after selling 200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Pure Storage were worth $4,368,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage in the 4th quarter worth approximately $29,000. Compass Financial Services Inc bought a new position in shares of Pure Storage in the fourth quarter worth $29,000. Larson Financial Group LLC raised its position in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares in the last quarter. Berbice Capital Management LLC bought a new stake in Pure Storage during the fourth quarter valued at $37,000. Finally, Venturi Wealth Management LLC grew its position in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSTG. UBS Group raised their price target on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their target price for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. William Blair reissued an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Stifel Nicolaus increased their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Lake Street Capital lifted their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average target price of $72.95.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock valued at $8,871,746 over the last quarter. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Performance

Shares of PSTG stock opened at $61.35 on Wednesday. Pure Storage, Inc. has a fifty-two week low of $40.79 and a fifty-two week high of $73.67. The firm has a market cap of $20.02 billion, a P/E ratio of 161.46, a P/E/G ratio of 5.12 and a beta of 1.09. The business’s 50 day moving average price is $66.09 and its 200-day moving average price is $58.25.

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.