Insider Selling: Pure Storage, Inc. (NYSE:PSTG) CRO Sells $285,429.07 in Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 6,977 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $40.91, for a total value of $285,429.07. Following the completion of the transaction, the executive now owns 90,223 shares of the company’s stock, valued at $3,691,022.93. The trade was a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Pure Storage Stock Up 1.3 %

Shares of PSTG opened at $45.71 on Friday. The stock’s fifty day simple moving average is $48.34 and its 200-day simple moving average is $56.13. The firm has a market capitalization of $14.90 billion, a PE ratio of 120.29, a price-to-earnings-growth ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67.

Analysts Set New Price Targets

A number of research firms have recently commented on PSTG. Citigroup reduced their price objective on shares of Pure Storage from $77.00 to $55.00 and set a “buy” rating for the company in a report on Monday, April 14th. Piper Sandler cut their price target on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price objective on shares of Pure Storage in a research note on Thursday, February 27th. UBS Group raised their target price on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Finally, Bank of America decreased their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average target price of $70.95.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC bought a new stake in shares of Pure Storage during the fourth quarter worth approximately $25,000. Sugar Maple Asset Management LLC bought a new stake in shares of Pure Storage during the 4th quarter valued at $29,000. Compass Financial Services Inc acquired a new position in shares of Pure Storage in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock worth $29,000 after purchasing an additional 233 shares during the last quarter. Finally, Crowley Wealth Management Inc. acquired a new stake in shares of Pure Storage during the fourth quarter worth $31,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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.