Bank of Montreal Can Sells 94,266 Shares of Pure Storage, Inc. (NYSE:PSTG)

Bank of Montreal Can trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG) by 48.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 99,297 shares of the technology company’s stock after selling 94,266 shares during the quarter. Bank of Montreal Can’s holdings in Pure Storage were worth $6,100,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Sycomore Asset Management raised its position in Pure Storage by 57.8% in the 4th quarter. Sycomore Asset Management now owns 187,874 shares of the technology company’s stock worth $11,541,000 after purchasing an additional 68,840 shares during the period. Asio Capital LLC bought a new position in shares of Pure Storage during the fourth quarter valued at about $264,000. Oak Thistle LLC bought a new position in shares of Pure Storage during the fourth quarter valued at about $1,196,000. Franklin Resources Inc. grew its position in Pure Storage by 210.2% during the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after acquiring an additional 1,730,123 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Pure Storage by 23.5% in the 4th quarter. Victory Capital Management Inc. now owns 284,649 shares of the technology company’s stock worth $17,486,000 after purchasing an additional 54,256 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

NYSE:PSTG opened at $41.25 on Tuesday. The firm’s 50-day moving average price is $53.05 and its 200-day moving average price is $56.72. The company has a market capitalization of $13.45 billion, a PE ratio of 108.56, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSTG. Citigroup dropped their price objective on Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a research note on Monday. Needham & Company LLC reissued a “buy” rating and set a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. UBS Group raised their price target on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Thursday, February 27th. StockNews.com downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Bank of America cut their target price on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.95.

Pure Storage 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.