Dan Fitzsimons Sells 8,895 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the sale, the executive now directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Pure Storage Stock Performance

NYSE:PSTG opened at $63.65 on Friday. Pure Storage, Inc. has a 52 week low of $34.32 and a 52 week high of $70.41. The company has a fifty day simple moving average of $56.44 and a two-hundred day simple moving average of $57.04. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07. The company has a market cap of $20.76 billion, a price-to-earnings ratio of 167.50, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in shares of Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after buying an additional 1,730,123 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Pure Storage by 22.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock worth $204,163,000 after acquiring an additional 747,034 shares during the last quarter. State Street Corp grew its holdings in Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after acquiring an additional 626,427 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Pure Storage in the 3rd quarter valued at approximately $20,470,000. Finally, FMR LLC raised its holdings in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on PSTG. Guggenheim increased their target price on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC raised their price objective on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. UBS Group lifted their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer initiated coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. One research 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. According to MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

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.