JFS Wealth Advisors LLC Reduces Stake in Pure Storage, Inc. (NYSE:PSTG)

JFS Wealth Advisors LLC lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 18.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,084 shares of the technology company’s stock after selling 459 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Pure Storage were worth $128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Creative Planning grew its stake in Pure Storage by 39.7% during the third quarter. Creative Planning now owns 27,399 shares of the technology company’s stock valued at $1,377,000 after acquiring an additional 7,780 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Pure Storage in the third quarter worth $50,000. Bleakley Financial Group LLC raised its position in shares of Pure Storage by 10.5% in the third quarter. Bleakley Financial Group LLC now owns 5,588 shares of the technology company’s stock worth $281,000 after buying an additional 530 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Pure Storage by 2.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,547 shares of the technology company’s stock valued at $2,539,000 after buying an additional 1,251 shares during the period. Finally, Blue Trust Inc. grew its position in Pure Storage by 462.2% during the third quarter. Blue Trust Inc. now owns 4,166 shares of the technology company’s stock worth $209,000 after buying an additional 3,425 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Up 0.4 %

NYSE:PSTG opened at $67.78 on Tuesday. The firm has a market capitalization of $22.11 billion, a P/E ratio of 178.38, a P/E/G ratio of 5.26 and a beta of 1.09. The company has a fifty day moving average of $65.73 and a 200 day moving average of $57.68. Pure Storage, Inc. has a 52 week low of $38.78 and a 52 week high of $73.67.

Insider Buying and Selling at Pure Storage

In other news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on PSTG shares. Needham & Company LLC raised their price target on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Oppenheimer initiated coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price for the company. Morgan Stanley boosted their price target on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Stifel Nicolaus lifted their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, William Blair reiterated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

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.