Dan Fitzsimons Sells 29,283 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 29,283 shares of Pure Storage stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the transaction, the executive now directly owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pure Storage Stock Performance

NYSE PSTG opened at $49.46 on Friday. The firm has a market cap of $16.07 billion, a P/E ratio of 290.94, a price-to-earnings-growth ratio of 6.79 and a beta of 1.15. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $50.02 and its 200-day moving average is $41.17. Pure Storage, Inc. has a 12-month low of $22.14 and a 12-month high of $58.46.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The business had revenue of $789.81 million for the quarter, compared to analysts’ expectations of $784.31 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PSTG shares. JPMorgan Chase & Co. lifted their price objective on shares of Pure Storage from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Susquehanna lifted their target price on shares of Pure Storage from $45.00 to $65.00 and gave the stock a “positive” rating in a research report on Thursday, April 11th. Wedbush reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Pure Storage in a report on Thursday, February 29th. Stifel Nicolaus lifted their price target on Pure Storage from $41.00 to $46.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Finally, KeyCorp boosted their price objective on Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $51.63.

Institutional Trading of Pure Storage

A number of institutional investors have recently added to or reduced their stakes in PSTG. Banque Cantonale Vaudoise purchased a new stake in shares of Pure Storage in the first quarter worth about $25,000. Naples Money Management LLC bought a new stake in Pure Storage during the 4th quarter worth approximately $25,000. LM Advisors LLC purchased a new stake in Pure Storage in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC bought a new position in Pure Storage in the 3rd quarter valued at $28,000. Finally, Principal Securities Inc. purchased a new position in shares of Pure Storage during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

About Pure Storage

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.