Broker data, page-12

Not really. They are brokers, not fund managers. Brokers have lots of customers that think buying is a good idea and lots that think selling is better. Whenever there is a flow into/out of an ETF that holds PLS, someone has to buy/sell that stock and put it into/take it out of the ETF - they don't use commsec for that, they use an institutional broker... especially if the ETF is managed offshore.

Yes brokers have analysts that make recommendations and have price targets... fund managers aren't much interested in those. Analysts are there to help investors understand the company and get access to its executives. The fund managers decide what to do with that and decide if the stock is worth buying or selling at the current price.

All up, these brokers are executing what they are told to execute by their customers*

*And doing the occasional market making activity.