Pure Storage, Inc. (NYSE:PSTG) Insider Sells $5,101,000.00 in Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $51.01, for a total transaction of $5,101,000.00. Following the completion of the sale, the insider now owns 400,000 shares in the company, valued at approximately $20,404,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, September 19th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00.
• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was 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 value of $5,239,000.00.
• On Thursday, July 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $59.50, for a total value of $5,950,000.00.

Pure Storage Stock Up 2.3 %

Shares of Pure Storage stock traded up $1.19 during trading on Tuesday, reaching $52.51. 1,808,210 shares of the company traded hands, compared to its average volume of 3,815,497. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The firm has a market capitalization of $17.08 billion, a PE ratio of 187.54, a P/E/G ratio of 7.83 and a beta of 1.11. The company has a 50 day moving average price of $53.41 and a 200-day moving average price of $56.85. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, equities research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its holdings in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC raised its position 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 buying an additional 306 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Pure Storage during the 1st quarter valued at $25,000. FSC Wealth Advisors LLC bought a new stake in Pure Storage in the 2nd quarter worth about $33,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Pure Storage in the 1st quarter valued at about $27,000. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group reduced their price target on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Piper Sandler decreased their price target on shares of Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Morgan Stanley cut shares of Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price objective on the stock. in a research note on Wednesday, June 12th. Finally, Susquehanna reaffirmed a “positive” rating and set a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and a consensus target price of $66.95.

Pure Storage Company Profile

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.