Bank of Nova Scotia Decreases Stake in Pure Storage, Inc. (NYSE:PSTG)

Bank of Nova Scotia cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 30.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,767 shares of the technology company’s stock after selling 6,090 shares during the quarter. Bank of Nova Scotia’s holdings in Pure Storage were worth $846,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Pure Storage in the third quarter valued at approximately $203,000. Barclays PLC boosted its stake in Pure Storage by 9.4% during the third quarter. Barclays PLC now owns 316,911 shares of the technology company’s stock worth $15,921,000 after buying an additional 27,345 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Pure Storage by 16.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,727 shares of the technology company’s stock valued at $237,000 after buying an additional 684 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Pure Storage by 30.1% in the 3rd quarter. Toronto Dominion Bank now owns 40,276 shares of the technology company’s stock worth $2,023,000 after acquiring an additional 9,315 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its stake in shares of Pure Storage by 15.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,709 shares of the technology company’s stock worth $915,000 after acquiring an additional 2,317 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a 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. Piper Sandler reduced their price target on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Bank of America lowered their price objective on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Citigroup reduced their target price on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.95.

Pure Storage Stock Up 0.4 %

Shares of PSTG stock opened at $41.25 on Tuesday. The firm has a 50 day moving average of $53.05 and a two-hundred day moving average of $56.72. The stock 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 52 week low of $34.51 and a 52 week high of $73.67.

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.