Pure Storage, Inc. (NYSE:PSTG)‘s stock had its “buy” rating reiterated by analysts at KeyCorp in a report issued on Wednesday, November 1st.
A number of other equities research analysts have also commented on PSTG. BidaskClub lowered shares of Pure Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Susquehanna Bancshares Inc restated a “positive” rating and set a $20.00 price objective (up previously from $18.00) on shares of Pure Storage in a report on Thursday, October 5th. BMO Capital Markets restated an “outperform” rating and set a $16.00 price objective (up previously from $15.00) on shares of Pure Storage in a report on Friday, August 25th. ValuEngine downgraded shares of Pure Storage from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Finally, JMP Securities increased their price target on shares of Pure Storage from $16.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $16.36.
Shares of Pure Storage (NYSE PSTG) traded down $0.05 during trading hours on Wednesday, hitting $16.78. 1,189,700 shares of the stock traded hands, compared to its average volume of 1,692,631. Pure Storage has a one year low of $9.12 and a one year high of $16.87.
Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.20. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The company had revenue of $224.50 million for the quarter, compared to analyst estimates of $217.97 million. During the same period in the previous year, the firm posted ($0.16) EPS. The firm’s revenue was up 37.6% on a year-over-year basis. sell-side analysts predict that Pure Storage will post -0.97 earnings per share for the current fiscal year.
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In other Pure Storage news, President David Hatfield sold 70,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $16.35, for a total value of $1,144,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Riitters sold 5,000 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $14.56, for a total value of $72,800.00. Following the completion of the transaction, the chief financial officer now directly owns 282,200 shares of the company’s stock, valued at approximately $4,108,832. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,028 shares of company stock valued at $3,773,235. 41.47% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its stake in shares of Pure Storage by 38.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,284 shares during the period. First Trust Advisors LP bought a new position in shares of Pure Storage during the 1st quarter valued at approximately $135,000. BNP Paribas Arbitrage SA grew its stake in shares of Pure Storage by 641.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock valued at $149,000 after acquiring an additional 10,078 shares during the period. Amalgamated Bank bought a new position in shares of Pure Storage during the 2nd quarter valued at approximately $151,000. Finally, Principal Financial Group Inc. bought a new position in shares of Pure Storage during the 2nd quarter valued at approximately $166,000. Institutional investors and hedge funds own 35.17% of the company’s stock.
About Pure Storage
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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