Pure Storage (NYSE:PSTG) Trading Up 0.3%

Pure Storage, Inc. (NYSE:PSTG)’s share price shot up 0.3% during mid-day trading on Tuesday . The company traded as high as $46.64 and last traded at $46.55. 345,642 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,914,215 shares. The stock had previously closed at $46.39.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSTG. Guggenheim reiterated a “buy” rating and set a $72.00 price target on shares of Pure Storage in a research note on Tuesday, June 25th. Susquehanna reiterated a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Raymond James dropped their price objective on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Citigroup decreased their price target on shares of Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Stifel Nicolaus dropped their price target on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research report 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, Pure Storage has a consensus rating of “Moderate Buy” and an average target price of $66.95.

Pure Storage Trading Up 1.1 %

The business has a fifty day moving average price of $58.52 and a 200-day moving average price of $57.02. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The company has a market cap of $15.25 billion, a P/E ratio of 166.25, a PEG ratio of 7.10 and a beta of 1.11.

Insider Buying and Selling at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total transaction of $5,950,000.00. Following the sale, the insider now owns 900,000 shares of the company’s stock, valued at $53,550,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CRO Dan Fitzsimons sold 9,881 shares of Pure Storage stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $59.32, for a total value of $586,140.92. Following the transaction, the executive now directly owns 115,601 shares of the company’s stock, valued at $6,857,451.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $59.50, for a total value of $5,950,000.00. Following the sale, the insider now owns 900,000 shares of the company’s stock, valued at $53,550,000. The disclosure for this sale can be found here. Insiders sold 324,177 shares of company stock valued at $18,863,083 in the last quarter. Company insiders own 6.00% of the company’s stock.

Institutional Trading of Pure Storage

A number of large investors have recently bought and sold shares of PSTG. Heritage Wealth Management Inc. acquired a new position in Pure Storage during the 2nd quarter worth approximately $721,000. Sanctuary Advisors LLC bought a new position in shares of Pure Storage in the 2nd quarter worth $988,000. Sycomore Asset Management acquired a new stake in Pure Storage in the 2nd quarter valued at $2,259,000. Cetera Investment Advisers increased its stake in Pure Storage by 8.0% during the 2nd quarter. Cetera Investment Advisers now owns 60,275 shares of the technology company’s stock valued at $3,870,000 after purchasing an additional 4,474 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Pure Storage by 19.3% in the second quarter. Truist Financial Corp now owns 12,561 shares of the technology company’s stock valued at $807,000 after buying an additional 2,028 shares in the last quarter. 83.42% of the stock is currently 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.