John Colgrove Sells 100,000 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the stock in a transaction dated 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 sale, the insider now owns 500,000 shares in the company, valued at $24,970,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

John Colgrove also recently made the following trade(s):

• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00.
• On Monday, August 5th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $52.39, for a total transaction of $5,239,000.00.
• On Thursday, July 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $59.50, for a total value of $5,950,000.00.

Pure Storage Stock Down 0.8 %

Pure Storage stock opened at $49.81 on Wednesday. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The firm has a 50 day moving average price of $55.06 and a two-hundred day moving average price of $56.93. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 177.89, a PEG ratio of 7.69 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The business had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Equities analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current year.

Institutional Investors Weigh In On Pure Storage

Several large investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV grew its holdings in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares during the period. Harbour Investments Inc. grew its stake in shares of Pure Storage by 3.0% in the 2nd quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock valued at $444,000 after buying an additional 202 shares during the period. Michael S. Ryan Inc. increased its position in Pure Storage by 4.8% in the 2nd quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock valued at $292,000 after buying an additional 208 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Pure Storage by 3.2% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock worth $462,000 after buying an additional 223 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Pure Storage by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock worth $1,928,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSTG. UBS Group dropped their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and set a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Barclays increased their price objective 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. Guggenheim restated a “buy” rating and issued a $72.00 target price on shares of Pure Storage in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus lowered their price target on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and a consensus 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.