Public Sector Pension Investment Board lowered its holdings in shares of Pure Storage, Inc. (NYSE:PSTG – Get Rating) by 76.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,875 shares of the technology company's stock after selling 201,125 shares during the quarter. Public Sector Pension Investment Board's holdings in Pure Storage were worth $1,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP purchased a new stake in shares of Pure Storage during the 1st quarter valued at about $29,000. IndexIQ Advisors LLC purchased a new stake in shares of Pure Storage during the 1st quarter valued at about $32,000. Parkside Financial Bank & Trust purchased a new stake in shares of Pure Storage during the 1st quarter valued at about $33,000. Penserra Capital Management LLC purchased a new stake in shares of Pure Storage during the 1st quarter valued at about $47,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Pure Storage during the 1st quarter valued at approximately $52,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Pure Storage Stock Performance

NYSE:PSTG opened at $30.25 on Friday. The stock's fifty day moving average is $29.16 and its 200 day moving average is $27.96. Pure Storage, Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $36.71. The firm has a market capitalization of $9.04 billion, a PE ratio of 756.44, a PEG ratio of 7.99 and a beta of 1.28.

Insider Activity at Pure Storage

In related news, Director Andrew William Fraser Brown sold 12,637 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $30.18, for a total transaction of $381,384.66. Following the sale, the director now owns 55,448 shares in the company, valued at approximately $1,673,420.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PSTG shares. JPMorgan Chase & Co. cut their price objective on Pure Storage from $43.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, November 25th. Lake Street Capital boosted their price objective on Pure Storage from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, September 1st. Northland Securities boosted their price objective on Pure Storage from $44.00 to $47.00 in a research note on Thursday, September 1st. Susquehanna boosted their price objective on Pure Storage from $40.00 to $44.00 in a research note on Thursday. Finally, Susquehanna Bancshares upped their price target on Pure Storage from $40.00 to $44.00 in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pure Storage has an average rating of "Moderate Buy" and an average target price of $38.89.

Pure Storage Company Profile

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Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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