Toronto Dominion Bank Buys 9,315 Shares of Pure Storage, Inc. (NYSE:PSTG)

Toronto Dominion Bank increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 30.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,276 shares of the technology company’s stock after acquiring an additional 9,315 shares during the period. Toronto Dominion Bank’s holdings in Pure Storage were worth $2,023,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in shares of Pure Storage by 56.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,696,390 shares of the technology company’s stock worth $237,345,000 after purchasing an additional 1,327,873 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after buying an additional 747,034 shares during the last quarter. State Street Corp grew its stake in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after buying an additional 626,427 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Pure Storage in the third quarter valued at $20,470,000. Finally, FMR LLC increased its holdings in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after buying an additional 368,643 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

NYSE PSTG opened at $63.70 on Monday. The firm has a 50-day moving average price of $54.29 and a two-hundred day moving average price of $56.84. Pure Storage, Inc. has a 12-month low of $34.32 and a 12-month high of $70.41. The company has a market capitalization of $20.87 billion, a P/E ratio of 167.64, a P/E/G ratio of 7.69 and a beta of 1.13. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Raymond James decreased their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. TD Cowen lifted their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup upped their price objective on Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group raised their price objective on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their target price on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

Insider Activity

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the sale, the insider now owns 500,000 shares of the company’s stock, valued at $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at approximately $4,862,874.48. This represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 454,542 shares of company stock worth $25,154,030. Corporate insiders own 6.00% of the company’s stock.

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.