Connor Clark & Lunn Investment Management Ltd. Has $61.64 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.’s holdings in Pure Storage were worth $61,641,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PSTG. Bank of New York Mellon Corp increased its holdings in 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 in the last quarter. Blair William & Co. IL grew its holdings in shares of Pure Storage by 0.7% during the second quarter. Blair William & Co. IL now owns 2,357,962 shares of the technology company’s stock worth $151,405,000 after buying an additional 15,747 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Pure Storage by 12.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,234,382 shares of the technology company’s stock valued at $143,470,000 after buying an additional 249,761 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pure Storage by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,303,863 shares of the technology company’s stock valued at $83,728,000 after acquiring an additional 235,356 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Pure Storage by 12.1% during the 2nd quarter. Rhumbline Advisers now owns 934,752 shares of the technology company’s stock worth $60,020,000 after acquiring an additional 101,062 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PSTG shares. TD Cowen lowered their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Northland Securities restated a “market perform” rating and issued a $59.00 price target (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Finally, Citigroup cut their price target on Pure Storage from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $67.95.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares of the company’s stock, valued at $4,785,578.82. The trade was a 8.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. This trade represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,542 shares of company stock valued at $18,599,030 in the last 90 days. Insiders own 6.00% of the company’s stock.

Pure Storage Trading Up 0.8 %

Pure Storage stock opened at $49.90 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The stock has a market capitalization of $16.35 billion, a PE ratio of 124.75, a price-to-earnings-growth ratio of 6.54 and a beta of 1.10. The business’s fifty day moving average is $51.54 and its 200 day moving average is $56.94. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (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 company had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. On average, sell-side analysts predict that Pure Storage, Inc. will post 0.42 EPS for the current year.

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.