Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,765 shares of the technology company’s stock after selling 5,030 shares during the quarter. Pure Storage makes up 1.2% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 28th biggest position. Taylor Frigon Capital Management LLC’s holdings in Pure Storage were worth $2,450,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PSTG. Creative Planning raised its stake in Pure Storage by 39.7% during the third quarter. Creative Planning now owns 27,399 shares of the technology company’s stock valued at $1,377,000 after buying an additional 7,780 shares in the last quarter. International Assets Investment Management LLC raised its stake in Pure Storage by 2,507.0% during the third quarter. International Assets Investment Management LLC now owns 108,267 shares of the technology company’s stock valued at $5,439,000 after buying an additional 104,114 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Pure Storage by 363.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,553 shares of the technology company’s stock valued at $275,000 after buying an additional 4,356 shares in the last quarter. Forsta AP Fonden raised its stake in Pure Storage by 16.2% during the third quarter. Forsta AP Fonden now owns 67,500 shares of the technology company’s stock valued at $3,391,000 after buying an additional 9,400 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Pure Storage by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 35,670 shares of the technology company’s stock valued at $1,792,000 after buying an additional 2,435 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of several research reports. Morgan Stanley upped their price objective on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Northland Securities reaffirmed a “market perform” rating and set a $63.00 target price (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Oppenheimer started coverage on Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price for the company. TD Cowen upped their target price on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays upped their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.95.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is owned by corporate insiders.

Pure Storage Price Performance

Shares of PSTG stock opened at $62.49 on Thursday. The business has a 50 day simple moving average of $66.09 and a 200 day simple moving average of $58.28. The firm has a market capitalization of $20.39 billion, a price-to-earnings ratio of 164.45, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12-month low of $40.95 and a 12-month high of $73.67.

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.