Pure Storage, Inc. (NYSE:PSTG - Get Free Report) insider Ajay Singh sold 37,588 shares of the firm's stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the transaction, the insider now owns 380,834 shares of the company's stock, valued at $20,389,852.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Pure Storage Stock Down 1.9 %
Shares of PSTG opened at $52.73 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. Pure Storage, Inc. has a 12 month low of $22.14 and a 12 month high of $58.46. The stock's 50 day moving average is $48.36 and its two-hundred day moving average is $40.25. The firm has a market cap of $17.13 billion, a P/E ratio of 310.19, a PEG ratio of 6.99 and a beta of 1.15.
Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The company had revenue of $789.81 million for the quarter, compared to analyst estimates of $784.31 million. During the same period last year, the company earned $0.27 earnings per share. Pure Storage's quarterly revenue was down 2.5% compared to the same quarter last year. Analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.
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PSTG has been the subject of several research analyst reports. UBS Group raised their price objective on Pure Storage from $38.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. Bank of America raised their price objective on Pure Storage from $42.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. TD Cowen raised their price objective on Pure Storage from $42.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 29th. Citigroup began coverage on Pure Storage in a report on Friday, March 15th. They set a "buy" rating and a $65.00 target price on the stock. Finally, Needham & Company LLC began coverage on Pure Storage in a report on Wednesday, March 6th. They set a "buy" rating and a $66.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $49.72.
Read Our Latest Stock Report on Pure Storage
Hedge Funds Weigh In On Pure Storage
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Pure Storage in the first quarter valued at approximately $48,000. GAMMA Investing LLC lifted its position in shares of Pure Storage by 197.4% in the first quarter. GAMMA Investing LLC now owns 928 shares of the technology company's stock valued at $48,000 after acquiring an additional 616 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Pure Storage by 1,518.6% in the first quarter. Los Angeles Capital Management LLC now owns 102,248 shares of the technology company's stock valued at $5,316,000 after acquiring an additional 95,931 shares in the last quarter. Moody National Bank Trust Division purchased a new position in shares of Pure Storage in the first quarter valued at approximately $373,000. Finally, Michael S. Ryan Inc. purchased a new position in shares of Pure Storage in the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 83.42% of the company's stock.
Pure Storage Company Profile
(
Get Free Report)
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.
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