Pure Storage, Inc. (NYSE:PSTG) Position Decreased by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA trimmed its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 37.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,333 shares of the technology company’s stock after selling 9,667 shares during the period. First Commonwealth Financial Corp PA’s holdings in Pure Storage were worth $1,003,000 as of its most recent SEC filing.

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

Pure Storage Trading Down 1.6 %

Shares of Pure Storage stock opened at $41.29 on Thursday. The firm’s 50 day simple moving average is $51.94 and its two-hundred day simple moving average is $56.51. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 108.66, a PEG ratio of 5.12 and a beta of 1.08.

Analysts Set New Price Targets

Several research analysts have recently commented on PSTG shares. Citigroup reduced their target price on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a report on Monday. Bank of America lowered their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Piper Sandler dropped their price target on Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group upped their price objective on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Thursday, February 27th. One investment 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. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $70.95.

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.