Maryland State Retirement & Pension System Has $1.04 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Maryland State Retirement & Pension System lessened its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,989 shares of the technology company’s stock after selling 705 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Pure Storage were worth $1,044,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage in the fourth quarter valued at about $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage in the 4th quarter valued at approximately $29,000. Larson Financial Group LLC raised its position in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after acquiring an additional 212 shares during the period. Berbice Capital Management LLC bought a new position in Pure Storage during the 4th quarter worth approximately $37,000. Finally, Financial Life Planners acquired a new position in Pure Storage during the fourth quarter valued at approximately $44,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

PSTG opened at $51.11 on Monday. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 134.51, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a one year low of $44.76 and a one year high of $73.67. The business has a 50 day simple moving average of $61.53 and a two-hundred day simple moving average of $57.38.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the transaction, the executive now directly owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on 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 completion of the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PSTG has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Lake Street Capital boosted their target price on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. TD Cowen increased their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Northland Securities reiterated a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Finally, StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

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.