Pure Storage, Inc. (NYSE:PSTG) Insider Sells $5,732,000.00 in Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the sale, the insider now directly owns 300,000 shares of the company’s stock, valued at approximately $17,196,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

John Colgrove also recently made the following trade(s):

• On Friday, October 4th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $51.01, for a total value of $5,101,000.00.
• On Thursday, September 19th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00.
• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00.
• On Monday, August 5th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $52.39, for a total transaction of $5,239,000.00.

Pure Storage Stock Performance

PSTG stock traded down $0.63 during midday trading on Wednesday, hitting $52.38. The stock had a trading volume of 1,864,959 shares, compared to its average volume of 3,757,788. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 132.48, a P/E/G ratio of 8.95 and a beta of 1.11. The stock has a 50-day simple moving average of $53.02 and a 200 day simple moving average of $56.99. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The company had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PSTG shares. Northland Securities reissued a “market perform” rating and issued a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Lake Street Capital reduced their target price on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Citigroup lowered their price objective on Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Finally, Raymond James dropped their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

Institutional Trading of Pure Storage

Hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in Pure Storage during the first quarter worth about $25,000. Fidelis Capital Partners LLC bought a new position in Pure Storage in the 1st quarter valued at about $27,000. Massmutual Trust Co. FSB ADV boosted its stake in Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC grew its stake in shares of Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Pure Storage during the third quarter worth approximately $31,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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.