Mallun Yen Sells 4,818 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTGGet Free Report) Director Mallun Yen sold 4,818 shares of Pure Storage stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $64.78, for a total value of $312,110.04. Following the transaction, the director now owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Pure Storage Stock Performance

NYSE:PSTG opened at $68.30 on Friday. The company has a market capitalization of $22.19 billion, a P/E ratio of 243.93, a P/E/G ratio of 6.74 and a beta of 1.06. The business has a fifty day simple moving average of $56.91 and a two-hundred day simple moving average of $47.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96. Pure Storage, Inc. has a 1 year low of $31.00 and a 1 year high of $68.75.

Institutional Investors Weigh In On Pure Storage

Several large investors have recently added to or reduced their stakes in PSTG. Naples Money Management LLC purchased a new stake in Pure Storage during the fourth quarter valued at about $25,000. Banque Cantonale Vaudoise bought a new stake in shares of Pure Storage in the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC bought a new stake in shares of Pure Storage in the first quarter valued at approximately $27,000. Principal Securities Inc. purchased a new stake in shares of Pure Storage during the 4th quarter valued at approximately $31,000. Finally, Lindbrook Capital LLC boosted its holdings in Pure Storage by 295.6% in the 1st quarter. Lindbrook Capital LLC now owns 633 shares of the technology company’s stock worth $33,000 after buying an additional 473 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several analyst reports. Bank of America lifted their target price on Pure Storage from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Northland Capmk lowered shares of Pure Storage from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Raymond James increased their target price on shares of Pure Storage from $63.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. UBS Group boosted their price target on shares of Pure Storage from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, Citigroup increased their price objective on shares of Pure Storage from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $66.15.

Read Our Latest Analysis on Pure Storage

About Pure Storage

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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.

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