Pure Storage (NYSE:PSTG) Insider John Colgrove Sells 100,000 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $91.59, for a total transaction of $9,159,000.00. Following the transaction, the insider owned 100,000 shares in the company, valued at $9,159,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

John Colgrove also recently made the following trade(s):

• On Tuesday, October 14th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $92.49, for a total transaction of $9,249,000.00.
• On Thursday, September 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $87.33, for a total transaction of $8,733,000.00.
• On Wednesday, August 27th, John Colgrove sold 95,300 shares of Pure Storage stock. The shares were sold at an average price of $60.08, for a total value of $5,725,624.00.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $88.58 on Thursday. The stock has a market capitalization of $29.11 billion, a PE ratio of 216.06, a price-to-earnings-growth ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The stock has a 50 day moving average price of $89.04 and a two-hundred day moving average price of $67.77.

Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $763.77 million for the quarter. Research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSTG shares. Needham & Company LLC raised their price objective on shares of Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 26th. UBS Group set a $110.00 price target on shares of Pure Storage in a research report on Tuesday, October 21st. JPMorgan Chase & Co. lifted their price target on Pure Storage from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Raymond James Financial boosted their price objective on Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Wells Fargo & Company raised their target price on Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Institutional Investors Weigh In On Pure Storage

Institutional investors have recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC purchased a new stake in Pure Storage in the 3rd quarter valued at about $28,000. Left Brain Wealth Management LLC purchased a new position in shares of Pure Storage in the 3rd quarter worth approximately $629,000. Barclays PLC grew its holdings in shares of Pure Storage by 40.8% in the third quarter. Barclays PLC now owns 485,459 shares of the technology company’s stock valued at $40,686,000 after acquiring an additional 140,591 shares in the last quarter. Pitcairn Co. purchased a new stake in shares of Pure Storage during the third quarter valued at approximately $242,000. Finally, ARK Investment Management LLC increased its position in shares of Pure Storage by 12.6% during the third quarter. ARK Investment Management LLC now owns 347,093 shares of the technology company’s stock valued at $29,090,000 after acquiring an additional 38,768 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

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.