Canandaigua National Bank & Trust Co. Sells 894 Shares of Pure Storage, Inc. (NYSE:PSTG)

Canandaigua National Bank & Trust Co. reduced its stake in Pure Storage, Inc. (NYSE:PSTG) by 17.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,353 shares of the technology company’s stock after selling 894 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Pure Storage were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Pure Storage by 1.6% during the first quarter. Vanguard Group Inc. now owns 31,789,480 shares of the technology company’s stock worth $1,652,735,000 after purchasing an additional 495,183 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 1,327,873 shares during the last quarter. Blair William & Co. IL lifted its stake in Pure Storage by 0.7% during the second quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock worth $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% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock worth $143,470,000 after purchasing an additional 249,761 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Pure Storage by 28.8% during the fourth quarter. Schroder Investment Management Group now owns 1,355,955 shares of the technology company’s stock worth $48,353,000 after purchasing an additional 302,964 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the transaction, the insider now owns 900,000 shares of the company’s stock, valued at $53,550,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the transaction, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the completion of the transaction, the insider now directly owns 900,000 shares in the company, valued at approximately $53,550,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 443,776 shares of company stock valued at $24,653,851 in the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PSTG has been the subject of several research analyst reports. Northland Securities reiterated a “market perform” rating and set a $59.00 price target (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. Morgan Stanley downgraded Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective for the company. in a report on Wednesday, June 12th. Wedbush restated an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. Evercore ISI decreased their price objective on Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Finally, Guggenheim restated a “buy” rating and issued a $72.00 price objective on shares of Pure Storage in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Pure Storage Stock Performance

Shares of PSTG opened at $51.24 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $16.66 billion, a P/E ratio of 183.00, a price-to-earnings-growth ratio of 7.75 and a beta of 1.11. The firm’s fifty day simple moving average is $53.55 and its two-hundred day simple moving average is $56.83. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current year.

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.