Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Pure Storage, Inc. (NYSE:PSTG) by 2.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,226,936 shares of the technology company’s stock after selling 31,970 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.37% of Pure Storage worth $61,641,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Covestor Ltd raised its position in shares of Pure Storage by 277.0% in the 1st quarter. Covestor Ltd now owns 1,489 shares of the technology company’s stock worth $77,000 after buying an additional 1,094 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Pure Storage in the 1st quarter valued at about $315,000. CANADA LIFE ASSURANCE Co grew its position in shares of Pure Storage by 182.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 216,808 shares of the technology company’s stock worth $11,262,000 after acquiring an additional 140,071 shares in the last quarter. Delap Wealth Advisory LLC acquired a new position in Pure Storage in the first quarter worth $284,000. Finally, First Commonwealth Financial Corp PA bought a new stake in shares of Pure Storage during the 1st quarter valued at about $1,352,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Trading Up 0.8 %

Shares of NYSE:PSTG opened at $49.90 on Wednesday. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The company has a market cap of $16.35 billion, a P/E ratio of 124.75, a P/E/G ratio of 6.54 and a beta of 1.10. The stock’s 50-day moving average is $51.54 and its 200-day moving average is $56.94.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The firm had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. Equities research analysts predict that Pure Storage, Inc. will post 0.42 earnings per share for the current year.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total transaction of $450,709.65. Following the completion of the transaction, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mona Chu sold 20,647 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the completion of the sale, the chief accounting officer now directly owns 75,992 shares in the company, valued at approximately $3,913,588. The trade was a 21.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 354,542 shares of company stock valued at $18,599,030. 6.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on PSTG shares. Guggenheim boosted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Northland Securities reiterated a “market perform” rating and set a $59.00 price objective (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Lake Street Capital decreased their target price on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Piper Sandler lowered their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Evercore ISI dropped their price objective on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. One investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.95.

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.