Key Points
- Ajay Singh, a Pure Storage insider, sold 7,178 shares on December 23 at an average price of $67.14 for a total of $481,930.92, reducing his holdings to 215,091 shares (a 3.23% ownership decrease).
- Pure Storage shares are trading around $67 (52-week range $34.51–$100.59) with a high P/E of 176.9; analysts have a consensus rating of “Moderate Buy” and an average price target of $95.26 (13 Buys, 6 Holds, 1 Sell).
Pure Storage, Inc. (NYSE:PSTG - Get Free Report) insider Ajay Singh sold 7,178 shares of the firm's stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Ajay Singh also recently made the following trade(s):
- On Wednesday, September 24th, Ajay Singh sold 7,014 shares of Pure Storage stock. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90.
Pure Storage Stock Down 0.2%
NYSE PSTG opened at $67.22 on Wednesday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The company has a 50 day moving average price of $83.86 and a 200 day moving average price of $72.88. The firm has a market cap of $22.19 billion, a PE ratio of 176.88, a price-to-earnings-growth ratio of 7.52 and a beta of 1.27.
Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. The business had revenue of $763.77 million for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on PSTG. Tigress Financial set a $105.00 target price on Pure Storage in a research report on Wednesday, December 3rd. Morgan Stanley set a $83.00 price objective on shares of Pure Storage in a report on Wednesday, December 3rd. Susquehanna set a $105.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Pure Storage in a research note on Wednesday, October 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.26.
Check Out Our Latest Stock Report on Pure Storage
Institutional Trading of Pure Storage
Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc increased its stake in shares of Pure Storage by 8.3% in the third quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company's stock worth $134,000 after acquiring an additional 122 shares during the period. Smartleaf Asset Management LLC grew its position in Pure Storage by 40.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company's stock worth $39,000 after purchasing an additional 134 shares during the period. One Capital Management LLC raised its stake in shares of Pure Storage by 1.0% during the 3rd quarter. One Capital Management LLC now owns 14,750 shares of the technology company's stock valued at $1,236,000 after buying an additional 141 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Pure Storage by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company's stock valued at $3,667,000 after buying an additional 152 shares during the period. Finally, State of Wyoming boosted its stake in shares of Pure Storage by 10.3% in the third quarter. State of Wyoming now owns 1,673 shares of the technology company's stock worth $140,000 after buying an additional 156 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.
Pure Storage Company Profile
(
Get Free Report)
Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.
Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company's storage operating environment.
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