Insider Selling: Pure Storage, Inc. (NYSE:PSTG) Insider Sells $5,732,000.00 in Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the completion of the sale, the insider now directly owns 300,000 shares of the company’s stock, valued at approximately $17,196,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, October 4th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $51.01, for a total value of $5,101,000.00.
• On Thursday, September 19th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00.
• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00.
• On Monday, August 5th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $52.39, for a total transaction of $5,239,000.00.

Pure Storage Stock Up 1.1 %

NYSE PSTG opened at $54.05 on Friday. The stock has a market capitalization of $17.71 billion, a P/E ratio of 135.13, a price-to-earnings-growth ratio of 8.31 and a beta of 1.11. Pure Storage, Inc. has a 52 week low of $31.00 and a 52 week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The stock has a fifty day moving average of $52.68 and a 200-day moving average of $56.93.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. The firm had revenue of $763.77 million during the quarter, compared to analyst estimates of $756.59 million. On average, equities research analysts forecast that Pure Storage, Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PSTG shares. Wedbush reissued an “outperform” rating and issued a $80.00 price target on shares of Pure Storage in a research report on Monday, August 26th. Raymond James cut their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Citigroup lowered their price target on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. TD Cowen cut their price objective on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Needham & Company LLC lowered their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.05.

Institutional Investors Weigh In On Pure Storage

A number of institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise acquired a new stake in Pure Storage during the 1st quarter worth $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of Pure Storage during the first quarter worth $27,000. Massmutual Trust Co. FSB ADV increased its holdings in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. Larson Financial Group LLC lifted its stake in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Pure Storage during the third quarter worth about $31,000. 83.42% of the stock is owned by institutional investors.

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.