Pure Storage Inc (PSTG) Insider Sells $35,755.50 in Stock

Pure Storage Inc (NYSE:PSTG) insider John Colgrove sold 2,167 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $16.50, for a total transaction of $35,755.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Pure Storage Inc (PSTG) traded up $0.16 on Wednesday, hitting $16.59. 1,010,000 shares of the company’s stock were exchanged, compared to its average volume of 2,210,000. The company has a market capitalization of $3,600.00 and a price-to-earnings ratio of -16.11. Pure Storage Inc has a fifty-two week low of $9.12 and a fifty-two week high of $19.27.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The business had revenue of $277.70 million during the quarter, compared to analyst estimates of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The company’s revenue was up 41.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. analysts forecast that Pure Storage Inc will post -0.93 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in shares of Pure Storage by 38.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,284 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Pure Storage by 151.3% during the third quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock worth $180,000 after acquiring an additional 6,810 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Pure Storage by 641.5% during the second quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after acquiring an additional 10,078 shares during the last quarter. Invictus RG bought a new position in shares of Pure Storage during the third quarter worth $187,000. Finally, Amalgamated Bank bought a new position in shares of Pure Storage during the second quarter worth $151,000. Institutional investors and hedge funds own 37.50% of the company’s stock.

Several research firms have recently weighed in on PSTG. Maxim Group reissued a “hold” rating and set a $20.00 price objective (up from $15.00) on shares of Pure Storage in a report on Wednesday, November 29th. UBS Group reaffirmed a “buy” rating and set a $22.00 target price (up from $18.00) on shares of Pure Storage in a report on Wednesday, November 29th. Lake Street Capital set a $21.00 target price on shares of Pure Storage and gave the company a “buy” rating in a report on Wednesday, November 29th. They noted that the move was a valuation call. BMO Capital Markets upped their target price on shares of Pure Storage to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 29th. Finally, Barclays reaffirmed a “hold” rating and set a $19.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Pure Storage currently has a consensus rating of “Buy” and an average target price of $18.55.

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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.

Insider Buying and Selling by Quarter for Pure Storage (NYSE:PSTG)

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