New York State Teachers Retirement System Decreases Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

New York State Teachers Retirement System reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 304,871 shares of the technology company’s stock after selling 11,512 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Pure Storage worth $18,728,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in shares of 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 period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after purchasing an additional 747,034 shares during the period. State Street Corp increased its holdings in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after purchasing an additional 626,427 shares during the period. World Investment Advisors LLC acquired a new position in shares of Pure Storage in the third quarter valued at about $20,470,000. Finally, FMR LLC increased its holdings in shares of Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents 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 valued at $8,871,746 over the last quarter. 6.00% of the stock is owned by insiders.

Pure Storage Stock Performance

NYSE:PSTG opened at $67.78 on Monday. Pure Storage, Inc. has a one year low of $38.78 and a one year high of $73.67. The stock has a market cap of $22.11 billion, a PE ratio of 178.38, a P/E/G ratio of 5.26 and a beta of 1.09. The stock has a 50 day moving average price of $65.73 and a 200 day moving average price of $57.70.

Wall Street Analyst Weigh In

Several analysts recently commented on PSTG shares. Oppenheimer started coverage on Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price on the stock. TD Cowen increased their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased 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. Finally, Wells Fargo & Company increased their price target on Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.70.

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.