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

Taylor Frigon Capital Management LLC lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 41.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,795 shares of the technology company's stock after selling 33,284 shares during the quarter. Taylor Frigon Capital Management LLC's holdings in Pure Storage were worth $2,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSTG. Wellington Management Group LLP boosted its position in Pure Storage by 0.3% during the 4th quarter. Wellington Management Group LLP now owns 548,430 shares of the technology company's stock valued at $19,557,000 after purchasing an additional 1,893 shares during the period. Banque Cantonale Vaudoise acquired a new position in Pure Storage during the 1st quarter worth $25,000. Brookstone Capital Management boosted its position in Pure Storage by 7.3% during the 1st quarter. Brookstone Capital Management now owns 8,627 shares of the technology company's stock worth $449,000 after acquiring an additional 584 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Pure Storage during the 1st quarter worth $73,000. Finally, Oak Thistle LLC acquired a new position in Pure Storage during the 1st quarter worth $448,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on Pure Storage from $65.00 to $60.00 and set a "hold" rating for the company in a research report on Thursday, August 29th. Lake Street Capital reduced their price target on Pure Storage from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. Evercore ISI reduced their price target on Pure Storage from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, August 29th. Northland Securities reissued a "market perform" rating and issued a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Finally, Wedbush reissued an "outperform" rating and issued a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Pure Storage presently has an average rating of "Moderate Buy" and a consensus price target of $68.05.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares in the company, valued at $24,970,000. The trade was a 0.00 % 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. In other Pure Storage news, CAO Mona Chu sold 20,647 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the transaction, the chief accounting officer now owns 75,992 shares in the company, valued at $3,913,588. The trade was a 0.00 % 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. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the sale, the insider now owns 500,000 shares of the company's stock, valued at approximately $24,970,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 554,542 shares of company stock worth $30,014,030 over the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Pure Storage Stock Up 2.0 %

NYSE:PSTG traded up $1.07 during trading hours on Thursday, hitting $53.45. 1,361,269 shares of the company's stock traded hands, compared to its average volume of 3,746,783. The firm has a market cap of $17.52 billion, a P/E ratio of 133.63, a P/E/G ratio of 8.31 and a beta of 1.11. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The stock's fifty day moving average price is $52.86 and its two-hundred day moving average price is $56.95.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. On average, research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

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.