CANADA LIFE ASSURANCE Co Increases Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

CANADA LIFE ASSURANCE Co boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311,973 shares of the technology company's stock after acquiring an additional 47,482 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.10% of Pure Storage worth $19,159,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Pure Storage by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock valued at $2,054,448,000 after acquiring an additional 615,931 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Pure Storage by 25.4% during the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock worth $413,982,000 after buying an additional 1,366,458 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Pure Storage by 3.0% during the fourth quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company's stock worth $363,751,000 after buying an additional 174,449 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Pure Storage by 18.8% in the fourth quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock worth $255,677,000 after buying an additional 657,175 shares in the last quarter. Finally, Norges Bank acquired a new position in Pure Storage during the fourth quarter worth about $216,690,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the sale, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. The trade was a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is owned by corporate insiders.

Pure Storage Stock Up 1.3 %

Pure Storage stock traded up $0.58 during mid-day trading on Friday, hitting $45.71. The company had a trading volume of 1,767,997 shares, compared to its average volume of 3,114,053. The business has a fifty day moving average of $48.81 and a 200 day moving average of $56.17. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 120.29, a PEG ratio of 5.12 and a beta of 1.08.

Analyst Upgrades and Downgrades

PSTG has been the subject of several analyst reports. Citigroup dropped their target price on Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a report on Monday, April 14th. Piper Sandler cut their target price on Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Bank of America decreased their price target on Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. StockNews.com downgraded Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, UBS Group increased their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.95.

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.