Pure Storage (PSTG) to Release Earnings on Wednesday

Pure Storage (NYSE:PSTG – Get Rating) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 31st. Analysts expect Pure Storage to post earnings of $0.04 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Pure Storage (NYSE:PSTG – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.17. Pure Storage had a return on equity of 16.59% and a net margin of 2.65%. The firm had revenue of $810.21 million during the quarter, compared to the consensus estimate of $811.30 million. On average, analysts expect Pure Storage to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $24.52 on Wednesday. Pure Storage has a 1-year low of $21.90 and a 1-year high of $32.45. The business has a fifty day moving average price of $24.17 and a 200-day moving average price of $26.91. The company has a market capitalization of $7.55 billion, a PE ratio of 116.76, a PEG ratio of 13.62 and a beta of 1.22.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 28,481 shares of Pure Storage stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $24.49, for a total transaction of $697,499.69. Following the transaction, the executive now directly owns 192,530 shares of the company’s stock, valued at approximately $4,715,059.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CRO Dan Fitzsimons sold 28,481 shares of Pure Storage stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $24.49, for a total transaction of $697,499.69. Following the transaction, the executive now directly owns 192,530 shares of the company’s stock, valued at approximately $4,715,059.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roxanne Taylor sold 19,155 shares of Pure Storage stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $26.08, for a total value of $499,562.40. Following the transaction, the director now directly owns 63,416 shares in the company, valued at $1,653,889.28. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its holdings in Pure Storage by 0.3% in the 2nd quarter. LPL Financial LLC now owns 120,438 shares of the technology company’s stock worth $3,096,000 after purchasing an additional 357 shares in the last quarter. Cetera Advisors LLC increased its stake in Pure Storage by 2.2% in the 4th quarter. Cetera Advisors LLC now owns 17,066 shares of the technology company’s stock worth $457,000 after acquiring an additional 368 shares during the last quarter. Advisory Research Inc. increased its stake in Pure Storage by 2.1% in the 3rd quarter. Advisory Research Inc. now owns 22,277 shares of the technology company’s stock worth $610,000 after acquiring an additional 452 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Pure Storage by 4.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 12,998 shares of the technology company’s stock worth $356,000 after acquiring an additional 530 shares during the last quarter. Finally, Quarry LP increased its stake in Pure Storage by 51.7% in the 1st quarter. Quarry LP now owns 1,784 shares of the technology company’s stock worth $46,000 after acquiring an additional 608 shares during the last quarter. 84.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Pure Storage from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. JPMorgan Chase & Co. reduced their price objective on Pure Storage from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $40.00 price objective on shares of Pure Storage in a report on Thursday, March 2nd. UBS Group reduced their price objective on Pure Storage from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, March 2nd. Finally, KeyCorp reduced their price objective on Pure Storage from $39.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $37.11.

About Pure Storage

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Pure Storage, Inc engages in the business of delivering innovative and disruptive data storage, products, and services that enable customers to maximize the value of data. The firm is also involved in the provision of data storage and management with a mission to redefine the storage experience by simplifying how people consume and interact with data.