Pure Storage (PSTG) to Release Earnings on Wednesday

Pure Storage (NYSE:PSTG) is anticipated to post its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Pure Storage to post earnings of $0.43 per share and revenue of $868.94 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Pure Storage Trading Down 1.8 %

NYSE PSTG opened at $63.89 on Tuesday. The company has a fifty day simple moving average of $66.18 and a 200 day simple moving average of $58.22. The company has a market cap of $20.84 billion, a P/E ratio of 168.12, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage has a 1 year low of $40.79 and a 1 year high of $73.67.

Insider Activity

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on PSTG shares. JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup upped their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday. UBS Group upped their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Finally, Barclays upped their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $72.95.

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.