Pure Storage, Inc. (NYSE:PSTG) CRO Sells $570,258.45 in Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now directly owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Pure Storage Trading Down 2.7 %

NYSE:PSTG opened at $63.65 on Friday. Pure Storage, Inc. has a 52 week low of $34.32 and a 52 week high of $70.41. The stock has a market cap of $20.76 billion, a price-to-earnings ratio of 167.50, a PEG ratio of 7.69 and a beta of 1.13. The company’s 50 day moving average price is $56.44 and its 200-day moving average price is $56.97. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07.

Institutional Trading of Pure Storage

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its position in shares of Pure Storage by 71.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,359 shares of the technology company’s stock valued at $87,000 after buying an additional 568 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Pure Storage by 3.0% in the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after acquiring an additional 202 shares during the period. Signaturefd LLC grew its stake in shares of Pure Storage by 15.7% in the second quarter. Signaturefd LLC now owns 3,966 shares of the technology company’s stock worth $255,000 after acquiring an additional 537 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Pure Storage by 143.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,296 shares of the technology company’s stock valued at $3,165,000 after purchasing an additional 29,040 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Pure Storage during the second quarter valued at approximately $267,000. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Lake Street Capital boosted their price target on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley raised their price target on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Northland Securities reissued a “market perform” rating and set a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. UBS Group raised their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Finally, William Blair reiterated an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

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.