Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Pure Storage, Inc. (NYSE:PSTG)

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 40.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 102,000 shares of the technology company’s stock after selling 70,318 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Pure Storage were worth $3,637,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in shares of Pure Storage by 2.3% in the third quarter. Janney Montgomery Scott LLC now owns 44,063 shares of the technology company’s stock worth $1,570,000 after buying an additional 1,011 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Pure Storage by 9.8% in the 3rd quarter. HighTower Advisors LLC now owns 13,240 shares of the technology company’s stock valued at $472,000 after purchasing an additional 1,185 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Pure Storage by 6.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,313 shares of the technology company’s stock worth $296,000 after purchasing an additional 532 shares during the last quarter. Deutsche Bank AG grew its stake in Pure Storage by 238.9% in the third quarter. Deutsche Bank AG now owns 77,008 shares of the technology company’s stock worth $2,743,000 after purchasing an additional 54,288 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in Pure Storage by 43.2% in the third quarter. Kestra Advisory Services LLC now owns 15,469 shares of the technology company’s stock valued at $551,000 after buying an additional 4,669 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Performance

PSTG stock opened at $68.35 on Wednesday. The company has a 50-day simple moving average of $57.78 and a 200 day simple moving average of $48.22. The company has a market capitalization of $22.21 billion, a P/E ratio of 244.11, a PEG ratio of 6.83 and a beta of 1.06. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The company has a quick ratio of 1.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Insider Activity

In related news, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the transaction, the insider now directly owns 380,834 shares of the company’s stock, valued at $20,389,852.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Pure Storage news, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the transaction, the insider now owns 380,834 shares in the company, valued at $20,389,852.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 20,564 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $52.31, for a total value of $1,075,702.84. Following the completion of the transaction, the director now directly owns 24,400 shares in the company, valued at approximately $1,276,364. The disclosure for this sale can be found here. Insiders sold 291,399 shares of company stock worth $15,578,814 over the last three months. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. TD Cowen boosted their target price on shares of Pure Storage from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Raymond James raised their price target on shares of Pure Storage from $63.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Stifel Nicolaus boosted their price objective on shares of Pure Storage from $46.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, Citigroup raised their target price on shares of Pure Storage from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.42.

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.