Mona Chu Sells 8,311 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mona Chu also recently made the following trade(s):

• On Monday, October 7th, Mona Chu sold 20,647 shares of Pure Storage stock. The shares were sold at an average price of $51.50, for a total transaction of $1,063,320.50.
• On Wednesday, September 25th, Mona Chu sold 25,000 shares of Pure Storage stock. The shares were sold at an average price of $50.32, for a total transaction of $1,258,000.00.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $62.59 on Thursday. The company’s fifty day moving average is $55.05 and its two-hundred day moving average is $56.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. The firm has a market capitalization of $20.51 billion, a P/E ratio of 164.71, a PEG ratio of 7.69 and a beta of 1.13. Pure Storage, Inc. has a one year low of $34.32 and a one year high of $70.41.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC increased its position in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Pure Storage in the 3rd quarter worth $31,000. Venturi Wealth Management LLC grew its stake in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after acquiring an additional 219 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Pure Storage by 174.4% during the second quarter. Blue Trust Inc. now owns 741 shares of the technology company’s stock valued at $48,000 after acquiring an additional 471 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Pure Storage during the third quarter worth about $50,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSTG. Piper Sandler raised Pure Storage from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Raymond James decreased their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Stifel Nicolaus lifted their price target on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

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.