Left Brain Wealth Management LLC Has $7.01 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Left Brain Wealth Management LLC lessened its holdings in Pure Storage, Inc. (NYSE:PSTG) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,035 shares of the technology company’s stock after selling 451 shares during the period. Pure Storage makes up 2.6% of Left Brain Wealth Management LLC’s portfolio, making the stock its 12th biggest position. Left Brain Wealth Management LLC’s holdings in Pure Storage were worth $7,005,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PSTG. Franklin Resources Inc. raised its position in Pure Storage by 210.2% in the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Pure Storage in the fourth quarter worth about $70,971,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after purchasing an additional 747,034 shares in the last quarter. State Street Corp raised its position in Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after purchasing an additional 626,427 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in Pure Storage in the third quarter worth about $20,470,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the completion of the sale, the executive now directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Morgan Stanley increased their target price on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Lake Street Capital increased their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their target price on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, TD Cowen increased their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.20.

Pure Storage Stock Up 0.7 %

Shares of PSTG stock opened at $48.55 on Friday. The stock has a 50-day moving average price of $63.13 and a 200 day moving average price of $57.45. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 127.77, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67.

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.