Canada Pension Plan Investment Board Sells 82,700 Shares of Pure Storage, Inc. (NYSE:PSTG)

Canada Pension Plan Investment Board trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 98.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,200 shares of the technology company's stock after selling 82,700 shares during the period. Canada Pension Plan Investment Board's holdings in Pure Storage were worth $74,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. World Investment Advisors boosted its holdings in Pure Storage by 1.6% in the fourth quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock worth $592,000 after acquiring an additional 150 shares in the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of Pure Storage by 2.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock worth $355,000 after purchasing an additional 150 shares in the last quarter. HighPoint Advisor Group LLC grew its position in Pure Storage by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock valued at $396,000 after purchasing an additional 157 shares during the period. Parallel Advisors LLC increased its stake in Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock valued at $815,000 after purchasing an additional 186 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. raised its holdings in Pure Storage by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock worth $4,130,000 after buying an additional 189 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,977 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the sale, the executive now owns 90,223 shares of the company's stock, valued at $3,691,022.93. The trade was a 7.18 % 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. Insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSTG. Piper Sandler reduced their price objective on shares of Pure Storage from $76.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup decreased their price objective on Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. Bank of America decreased their price target on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, UBS Group raised their price objective on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $70.95.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $45.71 on Friday. The stock has a market capitalization of $14.90 billion, a PE ratio of 120.29, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The business's fifty day moving average price is $48.34 and its 200-day moving average price is $56.15.

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.

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