Mona Chu Sells 8,311 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mona Chu also recently made the following trade(s):

• On Monday, October 7th, Mona Chu sold 20,647 shares of Pure Storage stock. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50.
• On Wednesday, September 25th, Mona Chu sold 25,000 shares of Pure Storage stock. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00.

Pure Storage Stock Up 4.6 %

Shares of PSTG traded up $2.91 during midday trading on Monday, hitting $66.62. The company had a trading volume of 3,378,230 shares, compared to its average volume of 3,670,065. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. Pure Storage, Inc. has a 1 year low of $34.32 and a 1 year high of $70.41. The firm has a market capitalization of $21.83 billion, a P/E ratio of 175.61, a P/E/G ratio of 7.69 and a beta of 1.13. The company’s 50-day simple moving average is $54.29 and its 200-day simple moving average is $56.84.

Hedge Funds Weigh In On Pure Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in PSTG. Sycomore Asset Management acquired a new stake in shares of Pure Storage during the second quarter valued at $2,259,000. Citigroup Inc. increased its holdings in shares of Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after acquiring an additional 14,659 shares during the last quarter. TT International Asset Management LTD grew its holdings in shares of Pure Storage by 1,160.1% during the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after purchasing an additional 67,285 shares during the last quarter. FMR LLC grew its position in Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Pure Storage by 92.0% during the third quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after purchasing an additional 92,762 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of analyst reports. Stifel Nicolaus upped their price target on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Citigroup raised their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Evercore ISI upped their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Susquehanna reissued a “positive” rating and issued a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Finally, Barclays increased their price target on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $72.10.

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.