Wellington Management Group LLP Decreases Holdings in Pure Storage, Inc. (NYSE:PSTG)

Wellington Management Group LLP decreased its stake in Pure Storage, Inc. (NYSE:PSTG) by 98.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,154 shares of the technology company’s stock after selling 2,336,275 shares during the period. Wellington Management Group LLP’s holdings in Pure Storage were worth $1,967,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Pure Storage by 97.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,974 shares of the technology company’s stock worth $769,000 after acquiring an additional 5,918 shares during the period. Blue Trust Inc. increased its stake in shares of Pure Storage by 174.4% in the second quarter. Blue Trust Inc. now owns 741 shares of the technology company’s stock worth $48,000 after purchasing an additional 471 shares in the last quarter. Raymond James & Associates raised its position in shares of Pure Storage by 5.4% in the second quarter. Raymond James & Associates now owns 330,271 shares of the technology company’s stock valued at $21,207,000 after purchasing an additional 16,864 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Pure Storage by 208.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 27,336 shares of the technology company’s stock worth $1,755,000 after buying an additional 18,463 shares during the period. Finally, Fifth Third Bancorp grew its stake in Pure Storage by 27.2% in the 2nd quarter. Fifth Third Bancorp now owns 4,758 shares of the technology company’s stock valued at $306,000 after buying an additional 1,017 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSTG. Wedbush reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Needham & Company LLC lifted their target price on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup increased their price target on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer initiated coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Raymond James decreased their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.70.

Pure Storage Stock Down 4.8 %

Shares of PSTG opened at $62.59 on Thursday. Pure Storage, Inc. has a 1 year low of $34.32 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The stock has a 50 day simple moving average of $55.05 and a two-hundred day simple moving average of $56.95. The firm has a market cap of $20.51 billion, a P/E ratio of 164.71, a P/E/G ratio of 7.69 and a beta of 1.13.

Insider Transactions at Pure Storage

In other news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $51.01, for a total value of $5,101,000.00. Following the transaction, the insider now owns 400,000 shares in the company, valued at approximately $20,404,000. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,853 shares of company stock worth $20,676,642. 6.00% of the stock is currently owned by insiders.

About Pure Storage

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.