Pure Storage (NYSE:PSTG) Trading 2.4% Higher

Pure Storage, Inc. (NYSE:PSTG)’s stock price traded up 2.4% on Thursday . The stock traded as high as $51.14 and last traded at $50.47. 499,148 shares traded hands during trading, a decline of 87% from the average session volume of 3,859,637 shares. The stock had previously closed at $49.28.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Northland Securities reiterated a “market perform” rating and set a $59.00 target price (down from $68.00) on shares of Pure Storage in a research note 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 research note on Thursday, August 29th. Bank of America lifted their price target on shares of Pure Storage from $57.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Northland Capmk downgraded shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company lifted their target price on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Pure Storage Stock Up 1.9 %

The business’s 50 day simple moving average is $55.66 and its 200 day simple moving average is $57.01. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $16.50 billion, a PE ratio of 181.14, a PEG ratio of 7.69 and a beta of 1.11.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.50, for a total value of $5,950,000.00. Following the completion of the sale, the insider now owns 900,000 shares of the company’s stock, valued at $53,550,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pure Storage news, CRO Dan Fitzsimons sold 9,881 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $59.32, for a total value of $586,140.92. Following the transaction, the executive now directly owns 115,601 shares in the company, valued at approximately $6,857,451.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the sale, the insider now directly owns 900,000 shares of the company’s stock, valued at approximately $53,550,000. The disclosure for this sale can be found here. Insiders have sold 324,177 shares of company stock worth $18,863,083 over the last quarter. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

Large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new position in Pure Storage in the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new stake in Pure Storage during the first quarter worth about $27,000. Massmutual Trust Co. FSB ADV grew its holdings in Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after acquiring an additional 161 shares during the period. Larson Financial Group LLC lifted its holdings in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares during the period. Finally, Principal Securities Inc. acquired a new position in Pure Storage in the fourth quarter valued at approximately $31,000. Institutional investors own 83.42% of the company’s stock.

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.