Mona Chu Sells 20,647 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 20,647 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the sale, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at $3,913,588. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Mona Chu also recently made the following trade(s):

• On Wednesday, September 25th, Mona Chu sold 25,000 shares of Pure Storage stock. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00.

Pure Storage Stock Down 0.2 %

NYSE:PSTG opened at $53.06 on Friday. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $17.26 billion, a P/E ratio of 189.89, a P/E/G ratio of 7.83 and a beta of 1.11. The stock’s fifty day simple moving average is $53.20 and its 200-day simple moving average is $56.83.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. The business had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. Equities research analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PSTG shares. Raymond James decreased their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. UBS Group decreased their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus reduced their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and issued a $80.00 price objective on shares of Pure Storage in a research report on Monday, August 26th. Finally, Citigroup reduced their price objective on Pure Storage from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sycomore Asset Management bought a new stake in shares of Pure Storage in the second quarter valued at about $2,259,000. State of Alaska Department of Revenue bought a new stake in shares of Pure Storage in the first quarter valued at about $1,675,000. Texas Permanent School Fund Corp bought a new stake in shares of Pure Storage in the first quarter valued at about $13,514,000. Heritage Wealth Management Inc. acquired a new stake in shares of Pure Storage in the second quarter valued at about $721,000. Finally, Cetera Investment Advisers increased its position in shares of Pure Storage by 284.9% in the first quarter. Cetera Investment Advisers now owns 55,801 shares of the technology company’s stock valued at $2,901,000 after acquiring an additional 41,305 shares during the last quarter. 83.42% of the stock is currently owned by 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.