Investment Management Corp of Ontario Has $1.35 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Investment Management Corp of Ontario raised its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 288.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,794 shares of the technology company's stock after buying an additional 19,894 shares during the quarter. Investment Management Corp of Ontario's holdings in Pure Storage were worth $1,346,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PSTG. Bank of New York Mellon Corp lifted its position in shares of Pure Storage by 56.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company's stock worth $237,345,000 after buying an additional 1,327,873 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Pure Storage by 22.5% in the 3rd 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 during the period. FMR LLC increased its stake in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock valued at $2,469,487,000 after buying an additional 368,643 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Pure Storage during the third quarter worth $15,857,000. Finally, AQR Capital Management LLC grew its stake in shares of Pure Storage by 52.0% during the second quarter. AQR Capital Management LLC now owns 917,804 shares of the technology company's stock worth $58,932,000 after purchasing an additional 314,164 shares during the period. Institutional investors own 83.42% of the company's stock.

Pure Storage Stock Performance

NYSE PSTG traded up $2.36 during trading on Friday, reaching $64.92. 4,787,641 shares of the company's stock were exchanged, compared to its average volume of 3,685,171. The business has a 50 day moving average price of $53.04 and a 200-day moving average price of $56.86. The stock has a market capitalization of $21.27 billion, a P/E ratio of 170.85, a PEG ratio of 7.27 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. Pure Storage, Inc. has a fifty-two week low of $31.90 and a fifty-two week high of $70.41.

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total value of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares of the company's stock, valued at approximately $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares in the company, valued at $4,785,578.82. The trade was a 8.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 454,542 shares of company stock valued at $25,154,030 over the last 90 days. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSTG. Oppenheimer began coverage on Pure Storage in a research note on Wednesday, November 13th. They set an "outperform" rating and a $70.00 price objective for the company. UBS Group lifted their price objective on Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a research note on Wednesday. Wedbush reiterated an "outperform" rating and set a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a report on Thursday, November 14th. Finally, Guggenheim lifted their target price on Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. One investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $72.10.

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.