Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 31.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,719 shares of the technology company’s stock after selling 5,431 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Pure Storage were worth $720,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. World Investment Advisors raised its position in Pure Storage by 1.6% during the fourth quarter. World Investment Advisors now owns 9,635 shares of the technology company’s stock worth $592,000 after acquiring an additional 150 shares during the period. Peapack Gladstone Financial Corp raised its position in shares of Pure Storage by 2.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company’s stock valued at $355,000 after buying an additional 150 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Pure Storage by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company’s stock valued at $396,000 after buying an additional 157 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Pure Storage by 1.4% in the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after buying an additional 186 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. raised its position in shares of Pure Storage by 0.3% in the fourth 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 during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Price Performance

Shares of PSTG stock opened at $48.72 on Monday. The firm has a market cap of $15.88 billion, a PE ratio of 128.21, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05. The company has a 50-day moving average of $45.89 and a two-hundred day moving average of $55.67. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67.

Analyst Ratings Changes

A number of brokerages have recently commented on PSTG. Citigroup reduced their target price on shares of Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, April 14th. StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Evercore ISI reduced their target price on shares of Pure Storage from $75.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a research report on Thursday, February 27th. Finally, UBS Group upped their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Insiders Place Their Bets

In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the completion of the transaction, the executive now owns 90,223 shares of the company’s stock, valued at $3,691,022.93. This trade represents a 7.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.00% of the stock is currently owned by insiders.

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.