Pure Storage, Inc. (NYSE:PSTG) Director Sells $1,075,702.84 in Stock

Pure Storage, Inc. (NYSE:PSTG) Director Andrew William Fraser Brown sold 20,564 shares of Pure Storage stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $52.31, for a total value of $1,075,702.84. Following the sale, the director now directly owns 24,400 shares of the company’s stock, valued at approximately $1,276,364. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pure Storage Trading Down 4.6 %

PSTG opened at $49.46 on Friday. The business has a 50 day simple moving average of $50.02 and a two-hundred day simple moving average of $41.17. The firm has a market capitalization of $16.07 billion, a price-to-earnings ratio of 290.94, a PEG ratio of 6.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80. Pure Storage, Inc. has a one year low of $22.14 and a one year high of $58.46.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. Pure Storage’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. Analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Naples Money Management LLC bought a new position in shares of Pure Storage in the 4th quarter worth approximately $25,000. Banque Cantonale Vaudoise bought a new position in shares of Pure Storage in the 1st quarter worth approximately $25,000. Global Retirement Partners LLC bought a new position in shares of Pure Storage in the 3rd quarter worth approximately $28,000. LM Advisors LLC bought a new position in shares of Pure Storage in the 4th quarter worth approximately $28,000. Finally, Principal Securities Inc. bought a new position in shares of Pure Storage in the 4th quarter worth approximately $31,000. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PSTG. Stifel Nicolaus lifted their price target on Pure Storage from $41.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Evercore ISI lifted their price target on Pure Storage from $41.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. KeyCorp lifted their price target on Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price target on shares of Pure Storage in a research note on Thursday, April 11th. Finally, Bank of America lifted 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. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

About Pure Storage

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.