Taylor Frigon Capital Management LLC Has $2.39 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Taylor Frigon Capital Management LLC decreased its stake in Pure Storage, Inc. (NYSE:PSTG) by 41.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,795 shares of the technology company’s stock after selling 33,284 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Pure Storage were worth $2,392,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its stake in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Larson Financial Group LLC lifted its position in shares of Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after buying an additional 306 shares during the period. Banque Cantonale Vaudoise bought a new stake in Pure Storage in the first quarter valued at $25,000. FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage in the 2nd quarter valued at $33,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Pure Storage during the 1st quarter worth about $27,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,639 shares of the company’s stock, valued at $4,862,874.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $52.39, for a total value of $5,239,000.00. Following the transaction, the insider now owns 800,000 shares of the company’s stock, valued at $41,912,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 554,542 shares of company stock valued at $30,014,030. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PSTG. Guggenheim upped their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Susquehanna reaffirmed a “positive” rating and set a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Raymond James reduced their price objective on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. UBS Group lowered their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Finally, Northland Securities reiterated a “market perform” rating and set a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.05.

Pure Storage Stock Up 1.8 %

Shares of NYSE:PSTG traded up $0.95 during midday trading on Thursday, reaching $53.33. The company had a trading volume of 372,247 shares, compared to its average volume of 3,741,783. The business’s 50 day moving average price is $52.86 and its 200 day moving average price is $56.95. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $17.34 billion, a PE ratio of 190.11, a P/E/G ratio of 8.95 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Research analysts forecast that Pure Storage, Inc. will post 0.43 EPS for the current fiscal year.

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.