John Francis Murphy Sells 11,234 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) Director John Francis Murphy sold 11,234 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $55.13, for a total transaction of $619,330.42. Following the completion of the sale, the director now owns 21,930 shares of the company’s stock, valued at approximately $1,209,000.90. The trade was a 33.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Pure Storage Trading Down 0.8%

NYSE:PSTG opened at $55.11 on Wednesday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The firm has a 50 day moving average of $48.64 and a 200-day moving average of $56.19. The stock has a market capitalization of $17.97 billion, a P/E ratio of 145.03, a price-to-earnings-growth ratio of 5.12 and a beta of 1.05.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. The company had revenue of $778.49 million during the quarter, compared to analysts’ expectations of $770.03 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. Pure Storage’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. McIlrath & Eck LLC bought a new position in shares of Pure Storage in the fourth quarter valued at approximately $25,000. Compass Financial Services Inc bought a new position in Pure Storage in the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB raised its position in Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock worth $29,000 after purchasing an additional 233 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in Pure Storage in the 4th quarter worth approximately $31,000. Finally, FNY Investment Advisers LLC raised its position in Pure Storage by 5,233.3% in the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock worth $35,000 after purchasing an additional 785 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PSTG shares. Wall Street Zen upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Barclays reduced their target price on shares of Pure Storage from $61.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, May 29th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their target price on shares of Pure Storage from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, May 29th. Finally, UBS Group raised their price target on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.95.

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.