Russell Investments Group Ltd. Cuts Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Russell Investments Group Ltd. trimmed its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 36.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 158,935 shares of the technology company’s stock after selling 91,302 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pure Storage were worth $9,774,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. World Investment Advisors raised its position in shares of Pure Storage by 1.6% during the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company’s stock worth $592,000 after purchasing an additional 150 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in Pure Storage by 2.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company’s stock worth $396,000 after buying an additional 157 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Pure Storage by 1.4% during the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after acquiring an additional 186 shares during the last quarter. Cherry Creek Investment Advisors Inc. lifted 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 acquiring an additional 189 shares in the last quarter. Finally, Brookstone Capital Management boosted its stake in shares of Pure Storage by 3.1% in the fourth quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Down 2.1 %

Shares of NYSE PSTG opened at $41.03 on Friday. The business’s 50 day moving average is $53.63 and its two-hundred day moving average is $56.73. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 107.98, a PEG ratio of 5.12 and a beta of 1.08.

Analyst Ratings Changes

Several research analysts recently commented on PSTG shares. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research 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. Piper Sandler cut their price objective on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, UBS Group upped their price target on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating 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 assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.05.

About Pure Storage

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.