Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons Sells 29,283 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 29,283 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the transaction, the executive now owns 138,105 shares of the company’s stock, valued at $7,200,794.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Pure Storage Trading Down 0.9 %

Shares of NYSE PSTG opened at $51.83 on Friday. Pure Storage, Inc. has a 1 year low of $22.14 and a 1 year high of $58.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80. The firm has a 50-day moving average of $49.93 and a 200 day moving average of $41.07. The stock has a market cap of $16.84 billion, a P/E ratio of 304.90, a price-to-earnings-growth ratio of 6.79 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. As a group, sell-side analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

PSTG has been the topic of several recent research reports. Citigroup assumed coverage on shares of Pure Storage in a report on Friday, March 15th. They set a “buy” rating and a $65.00 target price on the stock. Morgan Stanley lifted their target price on shares of Pure Storage from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Evercore ISI boosted their price target on Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Bank of America increased their price objective on Pure Storage from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, KeyCorp upped their target price on Pure Storage from $51.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and an average target price of $50.53.

Institutional Investors Weigh In On Pure Storage

Several hedge funds have recently added to or reduced their stakes in PSTG. State of Michigan Retirement System purchased a new position in shares of Pure Storage in the 1st quarter worth about $3,790,000. Oak Thistle LLC bought a new stake in Pure Storage during the 1st quarter valued at about $448,000. Future Financial Wealth Managment LLC purchased a new position in Pure Storage in the first quarter worth about $73,000. Brookstone Capital Management lifted its stake in shares of Pure Storage by 7.3% in the first quarter. Brookstone Capital Management now owns 8,627 shares of the technology company’s stock worth $449,000 after buying an additional 584 shares in the last quarter. Finally, FCF Advisors LLC grew its holdings in shares of Pure Storage by 10.8% during the first quarter. FCF Advisors LLC now owns 44,382 shares of the technology company’s stock valued at $2,307,000 after buying an additional 4,319 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.