Pure Storage (NYSE:PSTG) Insider Sells $481,930.92 in Stock

Pure Storage, Inc. (NYSE:PSTG) insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ajay Singh also recently made the following trade(s):

• On Wednesday, September 24th, Ajay Singh sold 7,014 shares of Pure Storage stock. The shares were sold at an average price of $85.85, for a total value of $602,151.90.

Pure Storage Trading Down 0.2%

PSTG stock traded down $0.10 during midday trading on Tuesday, hitting $67.22. The company’s stock had a trading volume of 2,973,957 shares, compared to its average volume of 3,113,137. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The company has a market cap of $22.19 billion, a PE ratio of 176.88, a P/E/G ratio of 7.72 and a beta of 1.28. The firm’s 50-day moving average is $83.86 and its 200-day moving average is $72.88.

Pure Storage (NYSE:PSTG) last announced its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. The business had revenue of $763.77 million during the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. Analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PSTG. Mechanics Financial Corp purchased a new position in Pure Storage in the second quarter valued at about $25,000. Winnow Wealth LLC bought a new stake in shares of Pure Storage in the 3rd quarter valued at about $26,000. Provenance Wealth Advisors LLC purchased a new position in shares of Pure Storage in the 3rd quarter worth approximately $27,000. Foster Dykema Cabot & Partners LLC bought a new position in shares of Pure Storage during the 3rd quarter worth approximately $28,000. Finally, Sunbelt Securities Inc. lifted its position in Pure Storage by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock valued at $28,000 after acquiring an additional 244 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PSTG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pure Storage in a report on Wednesday, October 8th. Tigress Financial set a $105.00 price objective on shares of Pure Storage in a research report on Wednesday, December 3rd. Northland Securities set a $77.00 target price on Pure Storage in a research report on Wednesday, December 3rd. Bank of America lifted their price target on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Finally, Susquehanna set a $105.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.26.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.