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.
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.
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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