Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 48.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in Pure Storage in the fourth quarter worth approximately $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage during the 4th quarter worth about $29,000. Crowley Wealth Management Inc. purchased a new stake in Pure Storage in the 4th quarter valued at about $31,000. Berbice Capital Management LLC acquired a new position in Pure Storage in the fourth quarter valued at about $37,000. Finally, Financial Life Planners purchased a new position in Pure Storage during the fourth quarter worth about $44,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Price Performance

Shares of Pure Storage stock traded up $0.53 during trading hours on Friday, hitting $41.79. The company had a trading volume of 2,606,810 shares, compared to its average volume of 3,131,416. The company's 50-day moving average is $50.84 and its two-hundred day moving average is $56.41. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The company has a market cap of $13.62 billion, a P/E ratio of 109.97, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSTG. Bank of America decreased their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Piper Sandler decreased their price target on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup lowered their price target on Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group boosted their price objective on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a "buy" rating and set a $75.00 target price on shares of Pure Storage in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.