Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,330 shares of the technology company’s stock after selling 2,670 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Pure Storage were worth $4,789,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Pure Storage during the third quarter worth $31,000. ORG Partners LLC purchased a new stake in shares of Pure Storage in the second quarter valued at $35,000. Venturi Wealth Management LLC increased its stake in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Pure Storage by 174.4% during the second quarter. Blue Trust Inc. now owns 741 shares of the technology company’s stock worth $48,000 after buying an additional 471 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Wednesday, December 4th. The shares were 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 owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total transaction of $450,709.65. Following the transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 454,542 shares of company stock worth $25,154,030. 6.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PSTG shares. Northland Securities restated a “market perform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Evercore ISI increased their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Citigroup lifted their price target on shares of Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim upped their price objective on Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Susquehanna reiterated a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average price target of $72.10.

Pure Storage Stock Performance

NYSE:PSTG opened at $62.56 on Friday. The firm has a 50-day moving average of $53.79 and a two-hundred day moving average of $56.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The stock has a market cap of $20.50 billion, a P/E ratio of 164.64, a PEG ratio of 7.48 and a beta of 1.13. Pure Storage, Inc. has a 1-year low of $33.75 and a 1-year high of $70.41.

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.