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

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

Pure Storage Stock Performance

NYSE PSTG opened at $65.40 on Friday. Pure Storage, Inc. has a fifty-two week low of $34.32 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77. The firm has a market capitalization of $21.34 billion, a P/E ratio of 172.11, a PEG ratio of 7.69 and a beta of 1.13. The stock has a 50-day simple moving average of $56.31 and a two-hundred day simple moving average of $57.05.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PSTG shares. Lake Street Capital raised their price target on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their price target on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Guggenheim increased their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Finally, UBS Group increased their price target on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and an average target price of $72.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its stake in shares of Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after purchasing an additional 306 shares during the period. ORG Wealth Partners LLC purchased a new stake in Pure Storage during the third quarter worth $31,000. Venturi Wealth Management LLC boosted its holdings in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares in the last quarter. Covestor Ltd grew its position in Pure Storage by 175.3% during the third quarter. Covestor Ltd now owns 991 shares of the technology company’s stock valued at $50,000 after buying an additional 631 shares during the period. Finally, nVerses Capital LLC purchased a new position in Pure Storage in the third quarter valued at $50,000. 83.42% of the stock is currently owned by hedge funds and other 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.