Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its position in Pure Storage, Inc. (NYSE:PSTG) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,333 shares of the technology company’s stock after selling 1,020 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Pure Storage were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Nordea Investment Management AB grew its holdings in shares of Pure Storage by 7.2% during the fourth quarter. Nordea Investment Management AB now owns 23,034 shares of the technology company’s stock worth $1,424,000 after buying an additional 1,542 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Pure Storage in the 4th quarter worth $554,000. GAMMA Investing LLC lifted its stake in shares of Pure Storage by 54.5% in the 4th quarter. GAMMA Investing LLC now owns 3,210 shares of the technology company’s stock worth $197,000 after acquiring an additional 1,132 shares during the period. Franklin Resources Inc. raised its holdings in Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in Pure Storage by 2.0% in the third quarter. Tidal Investments LLC now owns 69,711 shares of the technology company’s stock valued at $3,502,000 after purchasing an additional 1,343 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Stock Performance

NYSE:PSTG opened at $62.96 on Wednesday. Pure Storage, Inc. has a 1-year low of $35.35 and a 1-year high of $70.41. The firm has a 50 day simple moving average of $57.64 and a 200-day simple moving average of $56.68. The firm has a market cap of $20.54 billion, a PE ratio of 165.69, a P/E/G ratio of 7.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stifel Nicolaus lifted their price target on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Citigroup upped their price target on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Guggenheim raised their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays upped their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the sale, the insider now directly owns 300,000 shares in the company, valued at approximately $17,196,000. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 237,178 shares of company stock valued at $14,603,746. Company insiders own 6.00% of the company’s stock.

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.