Stifel Financial Corp Sells 9,801 Shares of Pure Storage, Inc. (NYSE:PSTG)

Stifel Financial Corp lessened its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,013 shares of the technology company's stock after selling 9,801 shares during the quarter. Stifel Financial Corp's holdings in Pure Storage were worth $6,758,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Sugar Maple Asset Management LLC bought a new position in Pure Storage during the 4th quarter valued at $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage in the fourth quarter valued at about $29,000. Crowley Wealth Management Inc. bought a new position in shares of Pure Storage during the fourth quarter valued at about $31,000. Berbice Capital Management LLC purchased a new position in Pure Storage during the fourth quarter worth about $37,000. Finally, Financial Life Planners purchased a new stake in Pure Storage in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

PSTG opened at $45.37 on Tuesday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The firm has a market capitalization of $14.79 billion, a P/E ratio of 119.40, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. The company has a fifty day moving average price of $47.89 and a 200-day moving average price of $56.11.

Analyst Ratings Changes

PSTG has been the topic of a number of research analyst reports. Piper Sandler cut their target price on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Bank of America reduced their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research note 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, February 27th. StockNews.com lowered shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Citigroup lowered their price objective on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Pure Storage currently has an average rating of "Moderate Buy" and a consensus price target of $70.20.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 6,977 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the sale, the executive now directly owns 90,223 shares of the company's stock, valued at $3,691,022.93. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.00% of the stock is owned by company insiders.

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.

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