Janus Henderson Group PLC Has $2.68 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Janus Henderson Group PLC cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 93.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,524 shares of the technology company’s stock after selling 597,456 shares during the quarter. Janus Henderson Group PLC’s holdings in Pure Storage were worth $2,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PSTG. Sugar Maple Asset Management LLC bought a new position in Pure Storage during the 4th quarter worth approximately $29,000. Compass Financial Services Inc acquired a new stake in Pure Storage in the fourth quarter worth $29,000. Crowley Wealth Management Inc. bought a new position in shares of Pure Storage during the fourth quarter worth $31,000. Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the 4th quarter valued at $37,000. Finally, Financial Life Planners bought a new stake in shares of Pure Storage in the 4th quarter valued at $44,000. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 872 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $51.51, for a total value of $44,916.72. Following the sale, the executive now owns 89,351 shares in the company, valued at approximately $4,602,470.01. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, May 12th. The stock was sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the transaction, the insider now directly owns 801,959 shares of the company’s stock, valued at approximately $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,849 shares of company stock worth $5,531,346. Company insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PSTG shares. Piper Sandler reduced their target price on Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Citigroup lifted their price objective on Pure Storage from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 16th. Bank of America lowered their target price on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company 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 note on Thursday, February 27th. Finally, Morgan Stanley upped their price target on shares of Pure Storage from $40.00 to $62.00 and gave the company an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.20.

Pure Storage Price Performance

Pure Storage stock opened at $56.54 on Wednesday. The company’s 50-day moving average is $46.81 and its 200-day moving average is $55.78. The firm has a market capitalization of $18.43 billion, a PE ratio of 148.79, a P/E/G ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67.

Pure Storage Company 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.