Insider Selling: Pure Storage, Inc. (NYSE:PSTG) CRO Sells 8,895 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the transaction, the executive now owns 94,446 shares in the company, valued at approximately $4,785,578.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Dan Fitzsimons also recently made the following trade(s):

• On Friday, July 19th, Dan Fitzsimons sold 9,881 shares of Pure Storage stock. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92.

Pure Storage Trading Up 1.2 %

NYSE:PSTG opened at $50.43 on Thursday. The stock has a fifty day moving average price of $55.06 and a 200 day moving average price of $56.93. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The firm has a market cap of $16.53 billion, a PE ratio of 180.11, a price-to-earnings-growth ratio of 7.87 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. Sell-side analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pure Storage

Large investors have recently modified their holdings of the company. Principal Securities Inc. acquired a new position in shares of Pure Storage during the fourth quarter worth $31,000. Dimensional Fund Advisors LP raised its stake in Pure Storage by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after buying an additional 28,086 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Pure Storage by 251.9% during the 4th quarter. Wells Fargo & Company MN now owns 635,842 shares of the technology company’s stock worth $22,674,000 after buying an additional 455,177 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Pure Storage by 105.5% during the 4th quarter. Corient Private Wealth LLC now owns 13,215 shares of the technology company’s stock worth $471,000 after acquiring an additional 6,783 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Pure Storage by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock valued at $1,928,000 after acquiring an additional 242 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PSTG shares. Barclays increased their price target on shares of Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Needham & Company LLC cut their target price on Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. UBS Group decreased their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Susquehanna reissued a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $66.95.

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.