Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,333 shares of the technology company’s stock after selling 1,020 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Pure Storage were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in shares of Pure Storage by 102.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 31,671 shares of the technology company’s stock valued at $2,034,000 after acquiring an additional 16,032 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Pure Storage by 41.2% in the second quarter. Victory Capital Management Inc. now owns 215,492 shares of the technology company’s stock worth $13,837,000 after buying an additional 62,830 shares during the period. HCR Wealth Advisors purchased a new stake in shares of Pure Storage in the second quarter worth about $205,000. Finally, PFG Investments LLC purchased a new stake in shares of Pure Storage during the 2nd quarter valued at about $231,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $62.96 on Wednesday. The company has a market cap of $20.54 billion, a PE ratio of 165.69, a P/E/G ratio of 7.69 and a beta of 1.09. Pure Storage, Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $70.41. The firm has a 50-day simple moving average of $57.64 and a 200 day simple moving average of $56.68. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PSTG. Stifel Nicolaus upped their price target on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Lake Street Capital upped their target price on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Finally, UBS Group lifted their target price on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the transaction, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 237,178 shares of company stock valued at $14,603,746. 6.00% of the stock is currently owned by insiders.

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.