Investment Management Corp of Ontario Has $1.35 Million Holdings in Pure Storage, Inc. (NYSE:PSTG)

Investment Management Corp of Ontario grew its holdings in Pure Storage, Inc. (NYSE:PSTG) by 288.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,794 shares of the technology company’s stock after buying an additional 19,894 shares during the period. Investment Management Corp of Ontario’s holdings in Pure Storage were worth $1,346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nvwm LLC grew its stake in Pure Storage by 23.3% in the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after buying an additional 194 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Pure Storage by 3.0% during the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after purchasing an additional 202 shares during the period. Larson Financial Group LLC lifted its holdings in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after purchasing an additional 212 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after purchasing an additional 219 shares during the period. Finally, Bank Pictet & Cie Europe AG increased its position in Pure Storage by 3.2% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock worth $462,000 after buying an additional 223 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of recent research reports. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $56.00 to $76.00 in a research report on Wednesday. Lake Street Capital increased their target price on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus raised their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday. Citigroup boosted their price target on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Susquehanna reissued a “positive” rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $62.58 on Friday. The company’s 50 day moving average price is $52.73 and its two-hundred day moving average price is $56.82. The firm has a market capitalization of $20.51 billion, a P/E ratio of 164.69, a P/E/G ratio of 7.27 and a beta of 1.13. Pure Storage, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $70.41. 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 Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares in the company, valued at approximately $4,785,578.82. This represents a 8.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares in the company, valued at approximately $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 a total of 354,542 shares of company stock valued at $18,599,030 in the last 90 days. 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.