BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $2.59 Million Position in Pure Storage, Inc. (NYSE:PSTG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 12.8% during the third quarter, Holdings Channel reports. The fund owned 51,550 shares of the technology company’s stock after selling 7,569 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Pure Storage were worth $2,590,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PSTG. Cetera Investment Advisers lifted its position in shares of Pure Storage by 284.9% during the 1st quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after acquiring an additional 41,305 shares during the period. Cetera Advisors LLC lifted its position in shares of Pure Storage by 3.0% during the 1st quarter. Cetera Advisors LLC now owns 19,214 shares of the technology company’s stock valued at $999,000 after acquiring an additional 555 shares during the period. GAMMA Investing LLC lifted its position in shares of Pure Storage by 113.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,982 shares of the technology company’s stock valued at $127,000 after acquiring an additional 1,054 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 acquiring an additional 161 shares during the period. Finally, CWM LLC increased its stake in Pure Storage by 37.0% during the 2nd quarter. CWM LLC now owns 8,252 shares of the technology company’s stock valued at $530,000 after purchasing an additional 2,228 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Price Performance

Pure Storage stock opened at $65.27 on Thursday. Pure Storage, Inc. has a 12 month low of $31.79 and a 12 month high of $70.41. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $52.49 and its 200 day simple moving average is $56.78. The company has a market cap of $21.39 billion, a price-to-earnings ratio of 163.18, a PEG ratio of 7.20 and a beta of 1.13.

Insider Activity at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the sale, the chief accounting officer now owns 96,639 shares of the company’s stock, valued at $4,862,874.48. The trade was a 20.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now directly owns 500,000 shares in the company, valued at $24,970,000. The trade was a 16.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,542 shares of company stock worth $18,599,030. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. Lake Street Capital cut their price target on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Susquehanna reiterated a “positive” rating and set a $80.00 price target on shares of Pure Storage in a research note on Monday, August 26th. Finally, William Blair reiterated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. One 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.00.

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.