Pure Storage, Inc. (NYSE:PSTG) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Pure Storage, Inc. (NYSE:PSTG) have been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $95.2632.

Several research firms recently commented on PSTG. Evercore ISI reaffirmed an “outperform” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Tigress Financial set a $105.00 target price on shares of Pure Storage in a research report on Wednesday, December 3rd. Citigroup decreased their price target on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Wedbush increased their price objective on Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Pure Storage in a report on Wednesday, December 3rd.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 307,178 shares of company stock valued at $26,020,931. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Pure Storage

A number of institutional investors have recently made changes to their positions in the business. Winnow Wealth LLC acquired a new position in Pure Storage in the 3rd quarter worth approximately $26,000. Provenance Wealth Advisors LLC purchased a new stake in shares of Pure Storage in the 3rd quarter valued at $27,000. Sunbelt Securities Inc. increased its stake in shares of Pure Storage by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock worth $28,000 after acquiring an additional 244 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Pure Storage during the third quarter worth $28,000. Finally, Assetmark Inc. raised its holdings in shares of Pure Storage by 186.6% during the third quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Up 3.0%

PSTG opened at $69.02 on Monday. The firm has a 50-day simple moving average of $80.02 and a two-hundred day simple moving average of $73.69. Pure Storage has a 52 week low of $34.51 and a 52 week high of $100.59. The company has a market capitalization of $22.79 billion, a PE ratio of 181.62, a price-to-earnings-growth ratio of 7.66 and a beta of 1.26.

Pure Storage (NYSE:PSTG) last posted its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share for the quarter. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The firm had revenue of $763.77 million during the quarter. As a group, sell-side analysts expect that Pure Storage will post 0.44 earnings per share for the current year.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.