M&T Bank Corp Sells 439 Shares of Pure Storage, Inc. (NYSE:PSTG)

M&T Bank Corp lessened its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,772 shares of the technology company’s stock after selling 439 shares during the quarter. M&T Bank Corp’s holdings in Pure Storage were worth $440,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Pure Storage during the third quarter worth approximately $31,000. Venturi Wealth Management LLC raised its stake in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares during the last quarter. Blue Trust Inc. lifted its holdings in Pure Storage by 174.4% in the second quarter. Blue Trust Inc. now owns 741 shares of the technology company’s stock valued at $48,000 after buying an additional 471 shares during the period. Finally, nVerses Capital LLC bought a new position in Pure Storage in the third quarter valued at approximately $50,000. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

PSTG has been the subject of several recent research reports. Raymond James dropped their target price 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. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and increased their target price for the company from $56.00 to $76.00 in a research note on Wednesday, December 4th. 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. TD Cowen upped their price target on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Northland Securities reissued a “market perform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen 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 an average price target of $72.70.

Insider Activity

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. This trade 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 available through this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 500,000 shares in the company, valued at $24,970,000. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 462,853 shares of company stock worth $25,670,642 over the last ninety days. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Down 1.2 %

NYSE PSTG opened at $65.77 on Wednesday. Pure Storage, Inc. has a 52 week low of $34.32 and a 52 week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. The stock’s 50 day moving average price is $54.86 and its two-hundred day moving average price is $56.91. The stock has a market capitalization of $21.55 billion, a price-to-earnings ratio of 173.08, a PEG ratio of 7.69 and a beta of 1.13.

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.