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

Cibc World Markets Corp decreased its position in Pure Storage, Inc. (NYSE:PSTG) by 21.8% in the fourth quarter, according to its most recent 13F filing with the 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSTG. Cherry Creek Investment Advisors Inc. boosted its position in shares of Pure Storage by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock worth $4,130,000 after buying an additional 189 shares during the period. Larson Financial Group LLC lifted its stake in Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after acquiring an additional 212 shares in the last quarter. Brookstone Capital Management boosted its position in Pure Storage by 3.1% during the 4th quarter. Brookstone Capital Management now owns 7,917 shares of the technology company’s stock worth $486,000 after acquiring an additional 240 shares during the period. KBC Group NV grew its stake in Pure Storage by 0.6% during the 4th quarter. KBC Group NV now owns 39,523 shares of the technology company’s stock valued at $2,428,000 after acquiring an additional 246 shares in the last quarter. Finally, Truvestments Capital LLC increased its holdings in shares of Pure Storage by 3.0% in the 4th quarter. Truvestments Capital LLC now owns 8,436 shares of the technology company’s stock valued at $518,000 after purchasing an additional 249 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Lake Street Capital boosted their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. 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 note on Tuesday, December 17th. Stifel Nicolaus lifted their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, TD Cowen upped their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $73.20.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’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 value of $570,258.45. Following the sale, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Up 0.6 %

Shares of Pure Storage stock opened at $51.11 on Friday. Pure Storage, Inc. has a 1 year low of $44.76 and a 1 year high of $73.67. The company’s fifty day simple moving average is $61.53 and its 200-day simple moving average is $57.24. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 134.51, a PEG ratio of 5.12 and a beta of 1.09.

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.