Legacy Wealth Asset Management LLC Trims Position in Pure Storage, Inc. (NYSE:PSTG)

Legacy Wealth Asset Management LLC lessened its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 9.9% in the fourth quarter, Holdings Channel reports. The fund owned 5,791 shares of the technology company’s stock after selling 635 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Pure Storage were worth $356,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Sycomore Asset Management purchased a new stake in Pure Storage in the second quarter worth about $2,259,000. Citigroup Inc. increased its position in Pure Storage by 11.3% in the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after buying an additional 14,659 shares in the last quarter. TT International Asset Management LTD increased its position in Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after buying an additional 67,285 shares in the last quarter. FMR LLC increased its position in Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after buying an additional 368,643 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Pure Storage by 92.0% in the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock worth $9,570,000 after buying an additional 92,762 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Up 1.6 %

Shares of Pure Storage stock opened at $66.47 on Friday. The firm has a market cap of $21.69 billion, a PE ratio of 174.94, a PEG ratio of 7.81 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $37.26 and a 12 month high of $70.41. The stock has a 50 day moving average of $59.63 and a 200 day moving average of $56.81.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the firm’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 value of $6,555,000.00. Following the completion of the sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,178 shares of company stock valued at $14,603,746 in the last ninety days. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PSTG. JPMorgan Chase & Co. upped their price target on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Barclays upped their price target on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Needham & Company LLC upped their price target on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen upped their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, UBS Group upped their price objective on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $72.70.

Pure Storage Company 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.