Pure Storage, Inc. (NYSE:PSTG) Insider John Colgrove Sells 100,000 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the sale, the insider now owns 300,000 shares of the company’s stock, valued at approximately $17,196,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were 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 shares were sold at an average price of $49.94, for a total value of $4,994,000.00.
• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $61.76, for a total value 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 Down 1.2 %

Shares of NYSE:PSTG opened at $52.38 on Thursday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The firm’s 50 day moving average price is $52.86 and its 200 day moving average price is $56.95. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 130.95, a price-to-earnings-growth ratio of 8.95 and a beta of 1.11.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PSTG shares. Wedbush reiterated an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Citigroup cut their target price on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Evercore ISI decreased their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Lake Street Capital dropped their price objective on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Susquehanna reissued a “positive” rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.05.

Institutional Trading of Pure Storage

Institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of 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 acquiring an additional 161 shares during the last quarter. Harbour Investments Inc. increased its stake in Pure Storage by 3.0% in the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock valued at $444,000 after purchasing an additional 202 shares during the last quarter. Michael S. Ryan Inc. raised its holdings in Pure Storage by 4.8% during the second quarter. Michael S. Ryan Inc. now owns 4,542 shares of the technology company’s stock worth $292,000 after purchasing an additional 208 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Pure Storage by 3.2% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock worth $462,000 after buying an additional 223 shares during the last quarter. Finally, Hanseatic Management Services Inc. lifted its position in shares of Pure Storage by 2.4% during the 2nd quarter. Hanseatic Management Services Inc. now owns 12,579 shares of the technology company’s stock worth $808,000 after buying an additional 296 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

About Pure Storage

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.