Ontario Teachers Pension Plan Board Trims Stake in Pure Storage, Inc. (NYSE:PSTG)

Ontario Teachers Pension Plan Board lessened its holdings in Pure Storage, Inc. (NYSE:PSTG) by 48.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,626 shares of the technology company’s stock after selling 9,960 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Pure Storage were worth $534,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV grew its holdings 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 purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC increased its stake in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Pure Storage during the third quarter worth about $31,000. FSC Wealth Advisors LLC bought a new position in shares of Pure Storage during the 2nd quarter valued at about $33,000. Finally, City State Bank lifted its position in Pure Storage by 175.0% in the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after buying an additional 350 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PSTG shares. Northland Securities reaffirmed a “market perform” rating and issued a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Oppenheimer started coverage on Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Piper Sandler reduced their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Susquehanna reiterated a “positive” rating and issued a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average target price of $67.95.

Pure Storage Stock Up 3.7 %

PSTG stock opened at $51.64 on Friday. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 129.10, a price-to-earnings-growth ratio of 6.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The business’s 50 day moving average price is $51.65 and its two-hundred day moving average price is $56.85. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. As a group, analysts forecast that Pure Storage, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now directly owns 94,446 shares of the company’s stock, valued at approximately $4,785,578.82. This represents a 8.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated 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 transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at approximately $24,970,000. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 354,542 shares of company stock worth $18,599,030 in the last three months. 6.00% of the stock is owned by corporate insiders.

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.