Sanctuary Advisors LLC Decreases Holdings in Pure Storage, Inc. (NYSE:PSTG)

Sanctuary Advisors LLC trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 13.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,286 shares of the technology company’s stock after selling 2,423 shares during the period. Sanctuary Advisors LLC’s holdings in Pure Storage were worth $939,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Cherry Creek Investment Advisors Inc. raised its holdings in shares of Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after buying an additional 189 shares in the last quarter. Nvwm LLC raised its holdings in shares of Pure Storage by 23.3% during the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after buying an additional 194 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after buying an additional 219 shares in the last quarter. Finally, Brookstone Capital Management raised its holdings in shares of Pure Storage by 3.1% during the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock valued at $486,000 after buying an additional 240 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Lake Street Capital raised their price target on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI raised their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Northland Securities restated a “market perform” rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, Needham & Company LLC raised 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $72.95.

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 transaction, the insider now owns 7,316,722 shares in the company, 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 SEC, which is available through this hyperlink. 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 a total of 137,178 shares of company stock worth $8,871,746 in the last quarter. 6.00% of the stock is owned by company insiders.

Pure Storage Stock Up 1.9 %

PSTG opened at $62.49 on Thursday. The stock has a market cap of $20.39 billion, a PE ratio of 164.45, a PEG ratio of 5.12 and a beta of 1.09. The business has a 50 day moving average of $66.09 and a 200-day moving average of $58.28. Pure Storage, Inc. has a 52 week low of $40.95 and a 52 week high of $73.67.

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.