Healthcare of Ontario Pension Plan Trust Fund Has $421,000 Stake in Pure Storage, Inc. (NYSE:PSTG)

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 377.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,381 shares of the technology company’s stock after buying an additional 6,627 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Pure Storage were worth $421,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSTG. Massmutual Trust Co. FSB ADV increased its position in shares of Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the period. Nvwm LLC grew its holdings in Pure Storage by 23.3% during the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock worth $52,000 after acquiring an additional 194 shares during the period. Harbour Investments Inc. raised its position in shares of Pure Storage by 3.0% in the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after acquiring an additional 202 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Pure Storage by 40.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent analyst reports. TD Cowen dropped their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 price target (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Raymond James cut their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Finally, Piper Sandler decreased their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.95.

Insiders Place Their Bets

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

Pure Storage Price Performance

Shares of NYSE PSTG opened at $53.05 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $17.38 billion, a PE ratio of 132.63, a PEG ratio of 7.19 and a beta of 1.10. The stock’s 50 day moving average price is $52.12 and its 200-day moving average price is $56.76. Pure Storage, Inc. has a twelve month low of $31.79 and a twelve month high of $70.41.

Pure Storage 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.