Pure Storage, Inc. (NYSE:PSTG) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its position in Pure Storage, Inc. (NYSE:PSTG) by 30.7% during the 4th quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

PSTG has been the subject of several recent analyst reports. UBS Group boosted their target price on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Thursday, February 27th. Citigroup reduced their price objective on shares of Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a research report on Monday. Bank of America dropped their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research 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 for the company in a research report on Tuesday, April 8th. Finally, StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. One investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.95.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $41.25 on Tuesday. The company has a market cap of $13.45 billion, a P/E ratio of 108.56, a PEG ratio of 5.12 and a beta of 1.08. The firm has a fifty day moving average of $53.05 and a two-hundred day moving average of $56.72. Pure Storage, Inc. has a one year low of $34.51 and a one year 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.