Cibc World Markets Corp Has $865,000 Stake in Pure Storage, Inc. (NYSE:PSTG)

Cibc World Markets Corp trimmed its stake in Pure Storage, Inc. (NYSE:PSTG) by 21.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,088 shares of the technology company’s stock after selling 3,916 shares during the period. Cibc World Markets Corp’s holdings in Pure Storage were worth $865,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Pure Storage during the fourth quarter worth about $70,971,000. State Street Corp increased its holdings in shares of Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after buying an additional 626,427 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Pure Storage in the third quarter valued at approximately $20,470,000. Finally, FMR LLC boosted its holdings in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after acquiring an additional 368,643 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PSTG shares. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Bank of America cut their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Morgan Stanley upped their price target on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Northland Securities restated a “market perform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, Citigroup dropped their target price on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $51.11 on Friday. The company has a market capitalization of $16.67 billion, a price-to-earnings ratio of 134.51, a P/E/G ratio of 5.12 and a beta of 1.09. The firm’s 50 day simple moving average is $61.53 and its 200 day simple moving average is $57.24. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67.

Insiders Place Their Bets

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the sale, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

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.