AXQ Capital LP Sells 14,902 Shares of Pure Storage, Inc. (NYSE:PSTG)

AXQ Capital LP reduced its position in Pure Storage, Inc. (NYSE:PSTG) by 79.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,742 shares of the technology company’s stock after selling 14,902 shares during the quarter. AXQ Capital LP’s holdings in Pure Storage were worth $230,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of Pure Storage by 90.5% in the 4th quarter. Sei Investments Co. now owns 493,597 shares of the technology company’s stock worth $30,322,000 after purchasing an additional 234,478 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Pure Storage by 262.4% in the 4th quarter. American Century Companies Inc. now owns 893,410 shares of the technology company’s stock worth $54,882,000 after purchasing an additional 646,875 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Pure Storage by 119.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 69,676 shares of the technology company’s stock worth $4,280,000 after purchasing an additional 37,946 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Pure Storage by 123.1% in the 4th quarter. Whittier Trust Co. now owns 132,618 shares of the technology company’s stock worth $8,147,000 after purchasing an additional 73,188 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Pure Storage by 0.9% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 68,753 shares of the technology company’s stock worth $4,223,000 after purchasing an additional 645 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction dated 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 completion of 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. 6.00% of the stock is currently owned by insiders.

Pure Storage Stock Performance

Shares of PSTG opened at $51.11 on Monday. The business has a 50-day moving average of $61.53 and a 200 day moving average of $57.38. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The firm has a market cap of $16.67 billion, a P/E ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Analyst Ratings Changes

Several equities analysts have weighed in on PSTG shares. TD Cowen raised their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group raised their price objective on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Stifel Nicolaus raised their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Northland Securities restated a “market perform” rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price objective on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

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.