Cookson Peirce & Co. Inc. Has $20.82 Million Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Cookson Peirce & Co. Inc. lifted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 583,802 shares of the technology company’s stock after purchasing an additional 24,921 shares during the quarter. Pure Storage makes up about 1.3% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 29th biggest position. Cookson Peirce & Co. Inc. owned approximately 0.18% of Pure Storage worth $20,818,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Pure Storage during the 3rd quarter worth $28,000. ST Germain D J Co. Inc. acquired a new position in shares of Pure Storage during the 2nd quarter worth $32,000. Parkside Financial Bank & Trust acquired a new position in shares of Pure Storage during the 1st quarter worth $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Pure Storage during the 4th quarter worth $45,000. Finally, Penserra Capital Management LLC acquired a new position in Pure Storage in the 1st quarter valued at $47,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the sale, the insider now owns 380,834 shares in the company, valued at approximately $20,389,852.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Roxanne Taylor sold 36,860 shares of Pure Storage stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $53.76, for a total transaction of $1,981,593.60. Following the completion of the sale, the director now owns 18,883 shares in the company, valued at approximately $1,015,150.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the sale, the insider now owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the topic of a number of research analyst reports. TD Cowen raised their target price on shares of Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Morgan Stanley raised their target price on shares of Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of Pure Storage in a research note on Thursday, April 11th. UBS Group raised their target price on shares of Pure Storage from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Finally, Barclays increased their price target on shares of Pure Storage from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.53.

Pure Storage Price Performance

Shares of NYSE:PSTG traded up $0.64 during midday trading on Tuesday, reaching $52.94. 1,503,778 shares of the company’s stock were exchanged, compared to its average volume of 4,691,812. The firm has a market capitalization of $17.20 billion, a PE ratio of 307.84, a price-to-earnings-growth ratio of 6.94 and a beta of 1.15. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83. The company’s 50 day simple moving average is $49.34 and its two-hundred day simple moving average is $40.79. Pure Storage, Inc. has a 12 month low of $22.14 and a 12 month high of $58.46.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. Equities research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.