Key Points
- John Colgrove sold 100,000 Pure Storage shares on Dec. 8 at an average price of $71.31, generating about $7.131 million, according to an SEC filing.
- This was the fourth consecutive 100,000‑share sale by Colgrove (also on Sep. 18, Oct. 14 and Nov. 10), with the four transactions totaling approximately $34.27 million.
- Pure Storage shares trade around $70 (52‑week range $34.51–$100.59) and sit below the 50‑day moving average (~$87.92); analysts have a "Moderate Buy" consensus with an average target price of $95.26.
Pure Storage, Inc. (NYSE:PSTG - Get Free Report) insider John Colgrove sold 100,000 shares of the firm's stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
John Colgrove also recently made the following trade(s):
- On Monday, November 10th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $91.59, for a total value of $9,159,000.00.
- On Tuesday, October 14th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $92.49, for a total transaction of $9,249,000.00.
- On Thursday, September 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $87.33, for a total transaction of $8,733,000.00.
Pure Storage Stock Performance
NYSE:PSTG opened at $70.23 on Wednesday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The firm's fifty day moving average is $87.92 and its 200-day moving average is $71.82. The firm has a market cap of $23.08 billion, a P/E ratio of 184.82, a P/E/G ratio of 7.94 and a beta of 1.27.
Pure Storage (NYSE:PSTG - Get Free Report) last released its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The business had revenue of $763.77 million for the quarter. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on PSTG. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. Susquehanna set a $105.00 price objective on shares of Pure Storage in a research note on Wednesday, December 3rd. Morgan Stanley set a $83.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. UBS Group raised their price target on shares of Pure Storage from $55.00 to $60.00 and gave the stock a "sell" rating in a report on Wednesday, December 3rd. Finally, Lake Street Capital upped their price objective on shares of Pure Storage from $80.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, December 3rd. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $95.26.
Get Our Latest Stock Report on Pure Storage
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of PSTG. Mechanics Financial Corp acquired a new position in shares of Pure Storage during the second quarter valued at about $25,000. Winnow Wealth LLC bought a new stake in Pure Storage during the 3rd quarter worth approximately $26,000. Provenance Wealth Advisors LLC purchased a new stake in shares of Pure Storage in the third quarter worth approximately $27,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Pure Storage in the third quarter worth approximately $28,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Pure Storage by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company's stock valued at $28,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.
About Pure Storage
(
Get Free Report)
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.
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