Bank of Montreal Can Purchases 92,762 Shares of Pure Storage, Inc. (NYSE:PSTG)

Bank of Montreal Can grew its holdings in Pure Storage, Inc. (NYSE:PSTG) by 92.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 193,563 shares of the technology company’s stock after purchasing an additional 92,762 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of Pure Storage worth $9,570,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake 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 valued at $204,163,000 after acquiring an additional 747,034 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Pure Storage by 56.1% during the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after purchasing an additional 1,327,873 shares during the period. Blair William & Co. IL increased its holdings in Pure Storage by 0.7% in the second quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock valued at $151,405,000 after purchasing an additional 15,747 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Pure Storage by 12.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock valued at $143,470,000 after buying an additional 249,761 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Pure Storage by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock valued at $83,728,000 after buying an additional 235,356 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the transaction, the insider now owns 300,000 shares of the company’s stock, valued at $17,196,000. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock valued at $18,599,030 in the last 90 days. 6.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

PSTG has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Citigroup reduced their price target on shares of Pure Storage from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Piper Sandler lowered their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Lake Street Capital reduced their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.95.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $52.99 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The business has a 50-day moving average of $52.06 and a 200-day moving average of $56.80. The stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of 132.48, a PEG ratio of 7.19 and a beta of 1.10. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41.

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.