Jacobs Levy Equity Management Inc. Sells 35,054 Shares of Pure Storage, Inc. (NYSE:PSTG)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 29.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,051 shares of the technology company's stock after selling 35,054 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Pure Storage were worth $5,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PSTG. Sugar Maple Asset Management LLC bought a new stake in Pure Storage during the fourth quarter worth about $29,000. Compass Financial Services Inc bought a new stake in Pure Storage during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage during the fourth quarter worth approximately $31,000. Berbice Capital Management LLC acquired a new position in shares of Pure Storage during the fourth quarter worth approximately $37,000. Finally, Financial Life Planners acquired a new position in shares of Pure Storage during the fourth quarter worth approximately $44,000. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PSTG. Citigroup upped their target price on shares of Pure Storage from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday. Needham & Company LLC reiterated a "buy" rating and set a $75.00 target price on shares of Pure Storage in a research report on Thursday, February 27th. UBS Group upped their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Bank of America reduced 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. Finally, Morgan Stanley upped their target price on shares of Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.20.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 872 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $51.51, for a total transaction of $44,916.72. Following the completion of the transaction, the executive now directly owns 89,351 shares of the company's stock, valued at approximately $4,602,470.01. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,849 shares of company stock valued at $5,531,346 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Pure Storage Price Performance

Shares of NYSE PSTG traded up $0.37 during midday trading on Tuesday, reaching $56.64. 654,745 shares of the stock were exchanged, compared to its average volume of 3,081,692. The business has a 50-day simple moving average of $46.65 and a two-hundred day simple moving average of $55.77. The company has a market capitalization of $18.47 billion, a price-to-earnings ratio of 148.99, a P/E/G ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67.

Pure Storage Company 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.