National Bank of Canada FI Sells 8,166 Shares of Pure Storage, Inc. (NYSE:PSTG)

National Bank of Canada FI cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 84.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,503 shares of the technology company’s stock after selling 8,166 shares during the period. National Bank of Canada FI’s holdings in Pure Storage were worth $76,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC grew its stake in Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the period. State Street Corp boosted its holdings in shares of Pure Storage by 6.5% in the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after buying an additional 626,427 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Pure Storage by 22.5% during 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 buying an additional 747,034 shares during the period. Bank of New York Mellon Corp increased its holdings in 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 buying an additional 1,327,873 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Pure Storage by 3.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,861,621 shares of the technology company’s stock worth $143,768,000 after acquiring an additional 93,106 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Price Performance

PSTG stock opened at $65.77 on Wednesday. The firm has a 50 day simple moving average of $54.86 and a two-hundred day simple moving average of $56.91. The stock has a market cap of $21.55 billion, a PE ratio of 173.08, a P/E/G ratio of 7.69 and a beta of 1.13. Pure Storage, Inc. has a one year low of $34.32 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSTG. Wells Fargo & Company increased their target price on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Northland Securities reissued a “market perform” rating and issued a $63.00 target price (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Morgan Stanley upped their price target on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Finally, Needham & Company LLC upped their price objective on shares of Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the sale, the insider now directly owns 500,000 shares of the company’s stock, valued at $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 25,000 shares of Pure Storage stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,639 shares in the company, valued at approximately $4,862,874.48. This represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 462,853 shares of company stock worth $25,670,642 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Pure Storage 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.