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

National Bank of Canada FI decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 84.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Pure Storage by 0.8% during the third 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 in the last quarter. State Street Corp lifted its position in shares of Pure Storage by 6.5% during 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. 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 buying an additional 747,034 shares in the last quarter. Bank of New York Mellon Corp grew its position in Pure Storage by 56.1% in the second quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock valued at $237,345,000 after acquiring 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 stake in Pure Storage by 3.4% during 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 in the last quarter. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PSTG shares. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their price target for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Guggenheim raised their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley boosted their price objective on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Pure Storage Price Performance

Shares of PSTG opened at $65.77 on Wednesday. The business’s fifty day moving average is $54.86 and its 200 day moving average is $56.91. Pure Storage, Inc. has a 12-month low of $34.32 and a 12-month high of $70.41. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07. The stock has a market cap of $21.55 billion, a P/E ratio of 173.08, a P/E/G ratio of 7.69 and a beta of 1.13.

Insiders Place Their Bets

In related news, CAO Mona Chu sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 462,853 shares of company stock worth $25,670,642. Insiders own 6.00% of the company’s stock.

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.