Jaffetilchin Investment Partners LLC Increases Position in Pure Storage, Inc. (NYSE:PSTG)

Jaffetilchin Investment Partners LLC raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 8,883.3% in the fourth quarter, Holdings Channel reports. The fund owned 4,312 shares of the technology company’s stock after buying an additional 4,264 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Pure Storage were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PSTG. Y Intercept Hong Kong Ltd purchased a new position in shares of Pure Storage during the 3rd quarter worth $203,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Pure Storage by 6.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 84,610 shares of the technology company’s stock valued at $4,251,000 after purchasing an additional 5,000 shares in the last quarter. Barclays PLC increased its position in shares of Pure Storage by 9.4% during the third quarter. Barclays PLC now owns 316,911 shares of the technology company’s stock worth $15,921,000 after acquiring an additional 27,345 shares during the period. Geode Capital Management LLC increased its holdings in Pure Storage by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock worth $269,798,000 after purchasing an additional 219,971 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in shares of Pure Storage by 16.9% during the third quarter. Coldstream Capital Management Inc. now owns 4,727 shares of the technology company’s stock worth $237,000 after buying an additional 684 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Trading Down 2.1 %

Shares of PSTG stock opened at $41.03 on Friday. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 107.98, a PEG ratio of 5.12 and a beta of 1.08. The firm has a 50-day moving average price of $53.63 and a 200 day moving average price of $56.73.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSTG. UBS Group raised their price target on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Bank of America reduced their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Citigroup decreased their price objective on Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Morgan Stanley lifted their price target on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.05.

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.