Shufro Rose & Co. LLC Trims Holdings in Pure Storage, Inc. (NYSE:PSTG)

Shufro Rose & Co. LLC trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 16.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,500 shares of the technology company’s stock after selling 11,900 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Pure Storage were worth $3,717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC purchased a new stake in Pure Storage in the 4th quarter worth approximately $202,000. Ascent Group LLC purchased a new stake in Pure Storage during the 4th quarter valued at approximately $310,000. Mackenzie Financial Corp raised its position in shares of Pure Storage by 135.5% during the fourth quarter. Mackenzie Financial Corp now owns 131,027 shares of the technology company’s stock valued at $8,049,000 after buying an additional 75,378 shares during the last quarter. Forum Financial Management LP raised its position in shares of Pure Storage by 8.5% during the fourth quarter. Forum Financial Management LP now owns 4,523 shares of the technology company’s stock valued at $278,000 after buying an additional 353 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Pure Storage by 1.1% during the fourth quarter. Toronto Dominion Bank now owns 40,705 shares of the technology company’s stock valued at $2,500,000 after buying an additional 429 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Stock Down 1.0%

NYSE PSTG opened at $55.49 on Friday. The company has a fifty day moving average of $47.12 and a two-hundred day moving average of $55.86. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 146.02, a PEG ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSTG. Morgan Stanley lifted their price objective on shares of Pure Storage from $40.00 to $62.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Evercore ISI lifted their price objective on shares of Pure Storage from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday. Wall Street Zen cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Bank of America reduced their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, UBS Group lifted their price objective 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.70.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,977 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares in the company, valued at approximately $3,691,022.93. This represents a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 801,959 shares in the company, valued at $41,709,887.59. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,849 shares of company stock valued at $5,531,346 over the last three months. 5.60% of the stock is owned by company insiders.

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.