Cookson Peirce & Co. Inc. Decreases Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Cookson Peirce & Co. Inc. trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 81.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,758 shares of the technology company’s stock after selling 47,140 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Pure Storage were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in Pure Storage during the fourth quarter valued at $29,000. Compass Financial Services Inc bought a new position in Pure Storage during the fourth quarter valued at $29,000. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the period. Berbice Capital Management LLC bought a new position in Pure Storage during the fourth quarter valued at $37,000. Finally, Venturi Wealth Management LLC grew its holdings in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares during the period. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. Lake Street Capital raised their price target on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Stifel Nicolaus raised their price target on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, UBS Group raised their price target on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Pure Storage Stock Up 4.3 %

NYSE PSTG opened at $52.24 on Thursday. The stock’s 50-day simple moving average is $64.83 and its two-hundred day simple moving average is $57.97. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 137.49, a PEG ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In other news, 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 transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,178 shares of company stock worth $2,316,746 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

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.