Bank of Montreal Can Has $9.57 Million Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Bank of Montreal Can increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 92.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 193,563 shares of the technology company’s stock after acquiring an additional 92,762 shares during the quarter. Bank of Montreal Can’s holdings in Pure Storage were worth $9,570,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cetera Investment Advisers boosted its holdings in shares of Pure Storage by 284.9% during the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock worth $2,901,000 after acquiring an additional 41,305 shares during the period. Cetera Advisors LLC lifted its holdings in Pure Storage by 3.0% during the 1st quarter. Cetera Advisors LLC now owns 19,214 shares of the technology company’s stock worth $999,000 after purchasing an additional 555 shares during the last quarter. GAMMA Investing LLC boosted its stake in Pure Storage by 113.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,982 shares of the technology company’s stock valued at $127,000 after purchasing an additional 1,054 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after buying an additional 161 shares in the last quarter. Finally, DNB Asset Management AS bought a new position in Pure Storage during the 2nd quarter worth $3,314,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Trading Up 0.2 %

PSTG opened at $52.99 on Monday. The company has a market cap of $17.36 billion, a P/E ratio of 132.48, a PEG ratio of 7.19 and a beta of 1.10. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $52.06 and its 200-day moving average is $56.80. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at approximately $4,862,874.48. This trade represents a 20.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,542 shares of company stock valued at $18,599,030 in the last quarter. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PSTG shares. Evercore ISI reduced their target price on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Wedbush restated an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Raymond James dropped their price target on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus cut their price target on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. Finally, Piper Sandler lowered their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

Pure Storage Company 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.