John Colgrove Sells 100,000 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $52.39, for a total transaction of $5,239,000.00. Following the transaction, the insider now owns 800,000 shares of the company’s stock, valued at approximately $41,912,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

John Colgrove also recently made the following trade(s):

• On Thursday, July 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $59.50, for a total transaction of $5,950,000.00.

Pure Storage Price Performance

Shares of NYSE:PSTG traded down $1.09 on Wednesday, reaching $52.75. 2,513,405 shares of the company were exchanged, compared to its average volume of 4,015,740. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of 192.25, a price-to-earnings-growth ratio of 5.47 and a beta of 1.11. The company has a 50-day moving average of $62.70 and a 200-day moving average of $54.65.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, May 29th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $693.48 million for the quarter, compared to analysts’ expectations of $681.37 million. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. Equities analysts forecast that Pure Storage, Inc. will post 0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

PSTG has been the subject of several research reports. Citigroup upped their price target on shares of Pure Storage from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Guggenheim reiterated a “buy” rating and issued a $72.00 price target on shares of Pure Storage in a research report on Tuesday, June 25th. StockNews.com upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Barclays upped their price target on shares of Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Evercore ISI upped their price objective on shares of Pure Storage from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Institutional Investors Weigh In On Pure Storage

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Pure Storage by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock valued at $41,666,000 after acquiring an additional 28,086 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Pure Storage in the 4th quarter valued at about $514,000. Private Advisor Group LLC lifted its holdings in Pure Storage by 44.1% in the 4th quarter. Private Advisor Group LLC now owns 11,235 shares of the technology company’s stock valued at $401,000 after purchasing an additional 3,437 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Pure Storage by 13.2% in the 4th quarter. Mackenzie Financial Corp now owns 533,530 shares of the technology company’s stock valued at $19,026,000 after purchasing an additional 62,274 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in Pure Storage by 83.9% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,068,255 shares of the technology company’s stock valued at $73,733,000 after purchasing an additional 943,850 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

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.