National Bank of Canada FI Reduces Stock Position in Pure Storage, Inc. (NYSE:PSTG)

National Bank of Canada FI cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 84.5% during the third quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PSTG. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Pure Storage by 97.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,974 shares of the technology company's stock worth $769,000 after acquiring an additional 5,918 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Pure Storage in the second quarter worth about $748,000. Blue Trust Inc. boosted its position in shares of Pure Storage by 174.4% during the second quarter. Blue Trust Inc. now owns 741 shares of the technology company's stock valued at $48,000 after buying an additional 471 shares during the period. Brookstone Capital Management grew its stake in shares of Pure Storage by 5.0% during the second quarter. Brookstone Capital Management now owns 9,058 shares of the technology company's stock valued at $549,000 after buying an additional 431 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Pure Storage by 5.4% in the second quarter. Raymond James & Associates now owns 330,271 shares of the technology company's stock worth $21,207,000 after buying an additional 16,864 shares during the period. 83.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSTG. Lake Street Capital boosted their price objective on Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Northland Securities restated a "market perform" rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Guggenheim upped their target price on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $72.70.

Pure Storage Stock Down 4.8 %

Shares of PSTG stock traded down $3.17 during mid-day trading on Wednesday, hitting $62.59. 3,746,509 shares of the stock traded hands, compared to its average volume of 3,667,183. Pure Storage, Inc. has a 52-week low of $34.32 and a 52-week high of $70.41. The stock has a market cap of $20.51 billion, a P/E ratio of 164.71, a P/E/G ratio of 7.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The stock's fifty day moving average is $55.05 and its two-hundred day moving average is $56.95.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage 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 sale, the executive now directly owns 94,446 shares in the company, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares in the company, valued at $24,970,000. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 462,853 shares of company stock worth $25,670,642 in the last 90 days. 6.00% of the stock is owned by corporate insiders.

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.