Pure Storage, Inc. (NYSE:PSTG) CRO Sells $1,526,815.62 in Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 29,283 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the transaction, the executive now directly owns 138,105 shares in the company, valued at $7,200,794.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Pure Storage Stock Down 0.9 %

NYSE:PSTG traded down $0.49 on Thursday, hitting $51.83. 2,106,615 shares of the company’s stock were exchanged, compared to its average volume of 4,664,215. The firm has a 50-day moving average price of $49.77 and a 200-day moving average price of $41.00. Pure Storage, Inc. has a 52 week low of $22.14 and a 52 week high of $58.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80. The company has a market cap of $16.84 billion, a P/E ratio of 308.78, a price-to-earnings-growth ratio of 6.92 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The company had revenue of $789.81 million during the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. As a group, analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $50.00 target price on shares of Pure Storage in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $66.00 target price on shares of Pure Storage in a research note on Thursday, April 11th. TD Cowen upped their price target on Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Morgan Stanley upped their target price on shares of Pure Storage from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Susquehanna boosted their price objective on Pure Storage from $45.00 to $65.00 and gave the stock a “positive” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.53.

Institutional Trading of Pure Storage

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Pure Storage by 1.4% during the 3rd quarter. FMR LLC now owns 46,793,394 shares of the technology company’s stock worth $1,666,781,000 after acquiring an additional 663,465 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Pure Storage by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company’s stock valued at $1,115,955,000 after purchasing an additional 567,358 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Pure Storage by 24.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,091,077 shares of the technology company’s stock valued at $359,464,000 after purchasing an additional 2,807,489 shares during the period. Morgan Stanley lifted its stake in shares of Pure Storage by 3.4% during the 3rd quarter. Morgan Stanley now owns 4,296,843 shares of the technology company’s stock worth $153,054,000 after buying an additional 140,541 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its stake in shares of Pure Storage by 33.8% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company’s stock worth $144,926,000 after buying an additional 1,028,104 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

About Pure Storage

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.