Insider Selling: Pure Storage, Inc. (NYSE:PSTG) Insider Sells 100,000 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

John Colgrove also recently made the following trade(s):

• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00.
• On Monday, August 5th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $52.39, for a total transaction of $5,239,000.00.
• On Thursday, July 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00.

Pure Storage Stock Performance

Shares of Pure Storage stock traded down $0.53 on Monday, reaching $50.19. 3,141,184 shares of the company traded hands, compared to its average volume of 3,890,373. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The company has a 50 day moving average of $55.66 and a 200 day moving average of $57.02. The firm has a market capitalization of $16.32 billion, a PE ratio of 181.14, a PEG ratio of 7.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The firm had revenue of $763.77 million during the quarter, compared to the consensus estimate of $756.59 million. Equities analysts forecast that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new position in Pure Storage in the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC bought a new position in Pure Storage in the 1st quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the period. Larson Financial Group LLC boosted its holdings in Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares during the period. Finally, Principal Securities Inc. bought a new position in Pure Storage in the 4th quarter valued at $31,000. 83.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PSTG shares. Evercore ISI dropped their price objective on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Morgan Stanley lowered shares of Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a report on Wednesday, June 12th. Raymond James lowered their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. TD Cowen lowered their target price on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Guggenheim restated a “buy” rating and issued a $72.00 target price on shares of Pure Storage in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

About Pure Storage

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.