Jaffetilchin Investment Partners LLC Raises Stake in Pure Storage, Inc. (NYSE:PSTG)

Jaffetilchin Investment Partners LLC lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 8,883.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,312 shares of the technology company’s stock after acquiring 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new position in Pure Storage during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new position in Pure Storage during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new position in shares of Pure Storage in the fourth quarter worth about $31,000. Berbice Capital Management LLC bought a new stake in shares of Pure Storage during the fourth quarter valued at approximately $37,000. Finally, Financial Life Planners bought a new stake in Pure Storage during the 4th quarter valued at $44,000. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $41.03 on Friday. The stock has a market capitalization of $13.38 billion, a P/E ratio of 107.98, a PEG ratio of 5.12 and a beta of 1.08. The business has a 50 day simple moving average of $53.63 and a two-hundred day simple moving average of $56.73. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67.

Analysts Set New Price Targets

PSTG has been the subject of several recent research reports. UBS Group boosted their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. Citigroup decreased their target price on Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler lowered their price target on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.