Pure Storage, Inc. (NYSE:PSTG) Insider Sells $4,994,000.00 in Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the transaction, the insider now directly owns 500,000 shares in the company, valued at approximately $24,970,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $61.76, for a total value 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 value 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 Trading Up 1.2 %

Pure Storage stock opened at $50.43 on Thursday. The firm has a 50-day moving average of $55.06 and a 200-day moving average of $56.93. Pure Storage, Inc. has a one year low of $31.00 and a one year high of $70.41. 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 company has a market cap of $16.53 billion, a price-to-earnings ratio of 180.11, a P/E/G ratio of 7.87 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping 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 company had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. On average, equities analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PSTG shares. Evercore ISI cut their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Bank of America upped their price objective on shares of Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Stifel Nicolaus lowered their price objective on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. Northland Capmk cut shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Piper Sandler lowered their price objective on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.95.

Institutional Investors Weigh In On Pure Storage

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Pure Storage by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after purchasing an additional 28,086 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Pure Storage during the first quarter worth approximately $1,675,000. Texas Permanent School Fund Corp acquired a new stake in Pure Storage during the first quarter worth approximately $13,514,000. Cetera Investment Advisers lifted its position in Pure Storage by 284.9% during the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock worth $2,901,000 after acquiring an additional 41,305 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Pure Storage during the first quarter worth approximately $709,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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.