Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,056 shares of the technology company’s stock after selling 550 shares during the period. Wedbush Securities Inc.’s holdings in Pure Storage were worth $249,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sycomore Asset Management boosted its stake in shares of Pure Storage by 57.8% during the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after acquiring an additional 68,840 shares in the last quarter. Asio Capital LLC acquired a new position in Pure Storage during the fourth quarter worth $264,000. Oak Thistle LLC purchased a new stake in Pure Storage during the fourth quarter worth $1,196,000. Franklin Resources Inc. grew its holdings in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Pure Storage by 23.5% in the fourth quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company’s stock valued at $17,486,000 after buying an additional 54,256 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $41.88 on Friday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The business’s fifty day moving average price is $54.17 and its two-hundred day moving average price is $56.80. The company has a market capitalization of $13.65 billion, a P/E ratio of 110.21, a PEG ratio of 5.12 and a beta of 1.08.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Citigroup reduced their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Bank of America dropped their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.05.

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.