Pure Storage, Inc. (NYSE:PSTG) CRO Sells $570,258.45 in Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pure Storage Stock Performance

NYSE PSTG opened at $63.65 on Friday. The stock has a market capitalization of $20.76 billion, a price-to-earnings ratio of 167.50, a PEG ratio of 7.69 and a beta of 1.13. The business’s 50 day moving average is $56.44 and its two-hundred day moving average is $57.04. Pure Storage, Inc. has a 12-month low of $34.32 and a 12-month high of $70.41. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of research analyst reports. Evercore ISI raised their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Citigroup lifted their price target on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Lake Street Capital upped their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, UBS Group boosted their target price on Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Institutional Trading of Pure Storage

A number of institutional investors have recently modified their holdings of the business. Nvwm LLC lifted its holdings in Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after acquiring an additional 194 shares during the period. Harbour Investments Inc. boosted its holdings in Pure Storage by 3.0% during the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after buying an additional 202 shares in the last quarter. Larson Financial Group LLC grew its position in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares during the period. Venturi Wealth Management LLC increased its holdings in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after buying an additional 219 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its position in shares of Pure Storage by 3.6% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 7,461 shares of the technology company’s stock valued at $375,000 after acquiring an additional 259 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

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.