Pure Storage, Inc. (NYSE:PSTG) CRO Sells $450,709.65 in Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now directly owns 94,446 shares of the company’s stock, valued at $4,785,578.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Dan Fitzsimons also recently made the following trade(s):

• On Friday, July 19th, Dan Fitzsimons sold 9,881 shares of Pure Storage stock. The shares were sold at an average price of $59.32, for a total value of $586,140.92.

Pure Storage Trading Down 0.8 %

Shares of Pure Storage stock traded down $0.38 during mid-day trading on Tuesday, hitting $49.81. 2,345,075 shares of the stock were exchanged, compared to its average volume of 3,881,975. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 179.25, a price-to-earnings-growth ratio of 7.69 and a beta of 1.11. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $55.34 and a 200 day simple moving average of $56.97.

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

Hedge Funds Weigh In On Pure Storage

Large investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new stake in Pure Storage in the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Pure Storage during the 1st quarter valued at $27,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. Larson Financial Group LLC increased its holdings 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 buying an additional 306 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Pure Storage in the 4th quarter worth $31,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PSTG. Raymond James cut their target price on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Evercore ISI reduced their target price on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Guggenheim reaffirmed a “buy” rating and set a $72.00 price objective on shares of Pure Storage in a research report on Tuesday, June 25th. Citigroup cut their price target on Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, UBS Group dropped their price objective on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

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.