Ajay Singh Sells 19,972 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pure Storage Trading Up 2.8 %

Shares of Pure Storage stock opened at $64.23 on Friday. The company has a 50 day simple moving average of $57.27 and a two-hundred day simple moving average of $56.86. The firm has a market cap of $20.95 billion, a PE ratio of 169.03, a PEG ratio of 7.69 and a beta of 1.09. Pure Storage, Inc. has a 1 year low of $35.35 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of recent research reports. TD Cowen raised their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group boosted their price objective on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. Oppenheimer started coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Northland Securities reiterated a “market perform” rating and issued a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

Institutional Trading of Pure Storage

Hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC raised its position in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Pure Storage during the 3rd quarter valued at about $31,000. Venturi Wealth Management LLC lifted its position in Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares during the last quarter. nVerses Capital LLC bought a new position in Pure Storage during the third quarter valued at approximately $50,000. Finally, Covestor Ltd raised its stake in shares of Pure Storage by 175.3% during the third quarter. Covestor Ltd now owns 991 shares of the technology company’s stock worth $50,000 after acquiring an additional 631 shares in the last quarter. 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.