Treasurer of the State of North Carolina Reduces Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Treasurer of the State of North Carolina cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,933 shares of the technology company’s stock after selling 5,410 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Pure Storage were worth $8,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. World Investment Advisors lifted its position in shares of Pure Storage by 1.6% in 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 period. Peapack Gladstone Financial Corp boosted its position in Pure Storage by 2.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company’s stock valued at $355,000 after acquiring an additional 150 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of 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 acquiring an additional 157 shares during the period. Parallel Advisors LLC raised its position in shares of Pure Storage by 1.4% in the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock worth $815,000 after acquiring an additional 186 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. lifted its stake in shares of Pure Storage by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after purchasing an additional 189 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Trading Down 2.1 %

Shares of PSTG stock opened at $41.03 on Monday. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The stock has a market capitalization of $13.38 billion, a P/E ratio of 107.98, a P/E/G ratio of 5.12 and a beta of 1.08. The firm’s 50 day moving average is $53.63 and its 200 day moving average is $56.78.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup reduced their price target on Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research note on Thursday, February 27th. UBS Group lifted their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research report 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 on the stock in a report on Tuesday, April 8th. Finally, Bank of America lowered their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.