CIBC Asset Management Inc Buys 773 Shares of Pure Storage, Inc. (NYSE:PSTG)

CIBC Asset Management Inc lifted its position in Pure Storage, Inc. (NYSE:PSTG) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,867 shares of the technology company’s stock after purchasing an additional 773 shares during the quarter. CIBC Asset Management Inc’s holdings in Pure Storage were worth $569,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Pure Storage during the first quarter worth about $25,000. Fidelis Capital Partners LLC bought a new stake in Pure Storage during the 1st quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV increased its holdings in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares in the last quarter. Principal Securities Inc. bought a new position in Pure Storage in the 4th quarter valued at $31,000. Finally, Lindbrook Capital LLC boosted its stake in Pure Storage by 295.6% in the first quarter. Lindbrook Capital LLC now owns 633 shares of the technology company’s stock worth $33,000 after purchasing an additional 473 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $45.73 on Friday. The firm’s 50 day simple moving average is $58.90 and its 200 day simple moving average is $56.86. 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 market capitalization of $14.87 billion, a price-to-earnings ratio of 163.32, a P/E/G ratio of 7.59 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Insider Buying and Selling at Pure Storage

In other news, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.79, for a total transaction of $911,941.84. Following the transaction, the chief financial officer now directly owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Pure Storage news, CFO P. Kevan Krysler sold 14,296 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the sale, the chief financial officer now directly owns 518,623 shares in the company, valued at $33,082,961.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $52.39, for a total value of $5,239,000.00. Following the transaction, the insider now owns 800,000 shares in the company, valued at approximately $41,912,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 324,177 shares of company stock valued at $18,863,083. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Needham & Company LLC lowered their target price on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. TD Cowen decreased their price target on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Citigroup lowered their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Susquehanna reaffirmed a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

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.