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

Taylor Frigon Capital Management LLC trimmed its stake in Pure Storage, Inc. (NYSE:PSTG) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 holding. Taylor Frigon Capital Management LLC’s holdings in Pure Storage were worth $2,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new position in shares of Pure Storage in the fourth quarter worth $29,000. Compass Financial Services Inc acquired a new position in shares of Pure Storage in the fourth quarter worth $29,000. Larson Financial Group LLC raised its holdings in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after acquiring an additional 212 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the fourth quarter worth $37,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after acquiring an additional 219 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Trading Up 1.9 %

PSTG stock opened at $62.49 on Thursday. The stock has a 50-day moving average price of $66.09 and a two-hundred day moving average price of $58.28. Pure Storage, Inc. has a 12-month low of $40.95 and a 12-month high of $73.67. The company has a market cap of $20.39 billion, a PE ratio of 164.45, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the business’s 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. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,178 shares of company stock worth $8,871,746 over the last quarter. 6.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Lake Street Capital boosted 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. Morgan Stanley lifted their price objective on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. UBS Group lifted their price objective on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their price objective on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.95.

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.