Pure Storage, Inc. (NYSE:PSTG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Pure Storage, Inc. (NYSE:PSTG) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $72.70.

A number of research analysts recently issued reports on PSTG shares. Evercore ISI raised their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. TD Cowen lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays increased their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Northland Securities reaffirmed a “market perform” rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, UBS Group upped their price target on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Wednesday, December 4th.

Pure Storage Stock Up 1.5 %

PSTG opened at $64.75 on Thursday. Pure Storage has a twelve month low of $34.32 and a twelve month 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 business has a 50 day moving average price of $55.90 and a 200 day moving average price of $56.94. The firm has a market cap of $21.12 billion, a P/E ratio of 170.40, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13.

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $51.01, for a total transaction of $5,101,000.00. Following the completion of the sale, the insider now owns 400,000 shares of the company’s stock, valued at approximately $20,404,000. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,958 shares of company stock worth $18,967,932 over the last quarter. Company insiders own 6.00% of the company’s stock.

Institutional Trading of Pure Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in PSTG. FMR LLC increased its holdings in shares of Pure Storage by 0.8% in the third 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. State Street Corp boosted its position in Pure Storage by 6.5% in the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after buying an additional 626,427 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of Pure Storage by 3.2% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,684,218 shares of the technology company’s stock valued at $285,575,000 after buying an additional 177,559 shares during the period. Geode Capital Management LLC raised its position in shares of Pure Storage by 4.3% during the third quarter. Geode Capital Management LLC now owns 5,382,095 shares of the technology company’s stock worth $269,798,000 after acquiring an additional 219,971 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Pure Storage by 22.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after acquiring an additional 747,034 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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.