Shufro Rose & Co. LLC Sells 11,900 Shares of Pure Storage, Inc. (NYSE:PSTG)

Shufro Rose & Co. LLC lessened its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 16.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 60,500 shares of the technology company's stock after selling 11,900 shares during the period. Shufro Rose & Co. LLC's holdings in Pure Storage were worth $3,717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC bought a new position in Pure Storage during the 4th quarter worth approximately $25,000. Compass Financial Services Inc bought a new stake in Pure Storage during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new position in shares of Pure Storage in the fourth quarter valued at approximately $31,000. Financial Life Planners bought a new stake in shares of Pure Storage in the fourth quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC grew its stake in Pure Storage by 157.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock valued at $44,000 after acquiring an additional 436 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Performance

Shares of NYSE PSTG traded down $0.55 during mid-day trading on Friday, reaching $53.09. 2,317,412 shares of the company traded hands, compared to its average volume of 3,090,871. The company's fifty day moving average is $47.38 and its two-hundred day moving average is $55.89. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67. The stock has a market cap of $17.31 billion, a PE ratio of 139.64, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. The company had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. The company's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. Research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research note on Thursday. Wall Street Zen cut shares of Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on Pure Storage from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Barclays dropped their target price on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and an average target price of $70.40.

Insider Activity at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, May 12th. The stock was sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the sale, the insider now owns 801,959 shares of the company's stock, valued at approximately $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This trade represents a 7.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 107,849 shares of company stock worth $5,531,346. 5.60% of the stock is owned by company insiders.

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.