Bank of Montreal Can Has $1.42 Million Holdings in Pure Storage Inc (PSTG)

Bank of Montreal Can grew its position in shares of Pure Storage Inc (NYSE:PSTG) by 239.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,526 shares of the technology company’s stock after buying an additional 62,460 shares during the quarter. Bank of Montreal Can’s holdings in Pure Storage were worth $1,424,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Pure Storage by 121.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 268,859 shares of the technology company’s stock worth $6,420,000 after buying an additional 147,234 shares during the period. FMR LLC raised its stake in Pure Storage by 66.8% during the 2nd quarter. FMR LLC now owns 15,114,725 shares of the technology company’s stock worth $360,940,000 after buying an additional 6,055,122 shares during the period. California Public Employees Retirement System raised its stake in Pure Storage by 8.4% during the 2nd quarter. California Public Employees Retirement System now owns 71,328 shares of the technology company’s stock worth $1,703,000 after buying an additional 5,531 shares during the period. Bank of New York Mellon Corp raised its stake in Pure Storage by 33.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 691,545 shares of the technology company’s stock worth $16,513,000 after buying an additional 173,958 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in Pure Storage during the 3rd quarter worth approximately $2,595,000. Institutional investors own 72.84% of the company’s stock.

In other news, CFO Timothy Riitters sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $18.14, for a total value of $453,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 15.30% of the company’s stock.

Several analysts have recently commented on PSTG shares. ValuEngine downgraded Pure Storage from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Morgan Stanley increased their price objective on Pure Storage from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 20th. Goldman Sachs Group raised Pure Storage from a “sell” rating to a “neutral” rating and set a $23.00 price objective for the company in a research note on Wednesday, October 17th. Wolfe Research started coverage on Pure Storage in a research note on Tuesday, December 11th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, Cowen started coverage on Pure Storage in a research note on Tuesday, December 11th. They issued a “market perform” rating and a $20.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.02.

PSTG stock opened at $19.03 on Thursday. The company has a market capitalization of $4.68 billion, a PE ratio of -22.65 and a beta of 1.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.64 and a quick ratio of 3.52. Pure Storage Inc has a 12-month low of $13.99 and a 12-month high of $29.14.

Pure Storage (NYSE:PSTG) last released its earnings results on Monday, November 19th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The company had revenue of $372.80 million during the quarter, compared to analyst estimates of $367.37 million. Pure Storage had a negative return on equity of 23.88% and a negative net margin of 12.89%. Pure Storage’s quarterly revenue was up 34.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Analysts anticipate that Pure Storage Inc will post -0.58 earnings per share for the current fiscal year.

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Pure Storage Profile

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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