Pure Storage, Inc. (NYSE:PSTG) Receives $66.95 Consensus PT from Brokerages

Shares of Pure Storage, Inc. (NYSE:PSTG) have been assigned a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $66.95.

PSTG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Needham & Company LLC lowered their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Barclays upped their price objective on shares of Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. UBS Group lowered their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Finally, Bank of America increased their price target on Pure Storage from $57.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $49.76 on Tuesday. Pure Storage has a one year low of $31.00 and a one year high of $70.41. The stock has a market cap of $16.18 billion, a PE ratio of 177.71, a price-to-earnings-growth ratio of 7.49 and a beta of 1.11. The business’s fifty day moving average price is $55.94 and its two-hundred day moving average price is $57.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

Insider Transactions at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the transaction, the insider now owns 900,000 shares in the company, valued at approximately $53,550,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total value of $5,950,000.00. Following the completion of the sale, the insider now directly owns 900,000 shares in the company, valued at approximately $53,550,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 9,881 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $59.32, for a total value of $586,140.92. Following the transaction, the executive now owns 115,601 shares in the company, valued at approximately $6,857,451.32. The disclosure for this sale can be found here. Insiders sold 324,177 shares of company stock valued at $18,863,083 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

A number of institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in Pure Storage during the 1st quarter valued at $25,000. Fidelis Capital Partners LLC acquired a new position in Pure Storage in the first quarter worth about $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 buying an additional 161 shares during the last quarter. Larson Financial Group LLC raised its stake 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 buying an additional 306 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Pure Storage during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

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.