Pure Storage, Inc. (NYSE:PSTG) had its price target increased by BMO Capital Markets from $13.00 to $15.00 in a research report released on Thursday, May 25th, Marketbeat reports. They currently have a buy rating on the technology company’s stock.
Other equities research analysts also recently issued research reports about the stock. CIBC restated a buy rating and issued a $15.00 price target on shares of Pure Storage in a research report on Tuesday, April 4th. Oppenheimer Holdings, Inc. set a $15.00 price objective on shares of Pure Storage and gave the company a buy rating in a research note on Monday, April 3rd. Vetr lowered shares of Pure Storage from a strong-buy rating to a buy rating and set a $13.46 price objective on the stock. in a research note on Tuesday, February 14th. Needham & Company LLC reiterated a buy rating and issued a $15.00 price objective (down previously from $18.00) on shares of Pure Storage in a research note on Thursday, March 2nd. Finally, William Blair reiterated a buy rating on shares of Pure Storage in a research note on Friday, April 14th. Eleven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Pure Storage has a consensus rating of Buy and an average target price of $15.29.
Shares of Pure Storage (NYSE:PSTG) traded up 0.68% during mid-day trading on Thursday, hitting $13.25. 3,138,251 shares of the stock traded hands. The stock has a 50-day moving average of $11.87 and a 200-day moving average of $11.38. Pure Storage has a 52 week low of $9.12 and a 52 week high of $15.14. The company’s market cap is $2.77 billion.
Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, May 24th. The technology company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.08. The business had revenue of $182.60 million during the quarter, compared to the consensus estimate of $176.13 million. Pure Storage had a negative net margin of 31.62% and a negative return on equity of 44.04%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) EPS. Analysts anticipate that Pure Storage will post ($0.27) EPS for the current year.
In other Pure Storage news, Director Michelangelo Volpi sold 19,086 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $13.00, for a total value of $248,118.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Riitters sold 3,416 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $10.30, for a total transaction of $35,184.80. Following the completion of the sale, the chief financial officer now owns 15,004 shares of the company’s stock, valued at approximately $154,541.20. The disclosure for this sale can be found here. Insiders have sold a total of 27,502 shares of company stock valued at $348,903 over the last three months. 46.58% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Pure Storage during the fourth quarter valued at approximately $228,000. Wesbanco Bank Inc. acquired a new stake in shares of Pure Storage during the first quarter valued at approximately $462,000. A.R.T. Advisors LLC boosted its stake in shares of Pure Storage by 753.8% in the fourth quarter. A.R.T. Advisors LLC now owns 227,100 shares of the technology company’s stock valued at $2,568,000 after buying an additional 200,500 shares in the last quarter. Norges Bank acquired a new stake in shares of Pure Storage during the fourth quarter valued at approximately $1,697,000. Finally, Key Square Capital Management LLC acquired a new stake in shares of Pure Storage during the fourth quarter valued at approximately $19,162,000. Institutional investors own 34.82% of the company’s stock.
About Pure Storage
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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