Pure Storage (PSTG) – Investment Analysts’ Recent Ratings Updates

Pure Storage (NYSE: PSTG) has recently received a number of price target changes and ratings updates:

• 12/17/2024 – Pure Storage had its price target raised by analysts at Morgan Stanley from $62.00 to $72.00. They now have an “equal weight” rating on the stock.
• 12/4/2024 – Pure Storage had its price target raised by analysts at UBS Group AG from $45.00 to $47.00. They now have a “sell” rating on the stock.
• 12/4/2024 – Pure Storage had its price target raised by analysts at Wells Fargo & Company from $75.00 to $80.00. They now have an “overweight” rating on the stock.
• 12/4/2024 – Pure Storage had its price target raised by analysts at JPMorgan Chase & Co. from $60.00 to $75.00. They now have an “overweight” rating on the stock.
• 12/4/2024 – Pure Storage was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $76.00 price target on the stock, up previously from $56.00.
• 12/4/2024 – Pure Storage had its price target raised by analysts at Evercore ISI from $70.00 to $75.00. They now have an “outperform” rating on the stock.
• 12/4/2024 – Pure Storage had its “market perform” rating reaffirmed by analysts at Northland Securities. They now have a $63.00 price target on the stock, up previously from $59.00.
• 12/4/2024 – Pure Storage had its price target raised by analysts at Stifel Nicolaus from $60.00 to $65.00. They now have a “hold” rating on the stock.
• 12/4/2024 – Pure Storage had its price target raised by analysts at Barclays PLC from $56.00 to $61.00. They now have an “equal weight” rating on the stock.
• 12/4/2024 – Pure Storage had its price target raised by analysts at Lake Street Capital from $68.00 to $70.00. They now have a “buy” rating on the stock.
• 12/4/2024 – Pure Storage had its price target raised by analysts at Citigroup Inc. from $63.00 to $75.00. They now have a “buy” rating on the stock.
• 12/4/2024 – Pure Storage had its price target raised by analysts at TD Cowen from $70.00 to $80.00. They now have a “buy” rating on the stock.
• 12/4/2024 – Pure Storage had its price target raised by analysts at Needham & Company LLC from $62.00 to $75.00. They now have a “buy” rating on the stock.
• 11/19/2024 – Pure Storage had its price target lowered by analysts at Citigroup Inc. from $67.00 to $63.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Pure Storage had its “outperform” rating reaffirmed by analysts at William Blair.
• 11/13/2024 – Pure Storage is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $70.00 price target on the stock.

Pure Storage Stock Up 0.0 %

Pure Storage stock traded up $0.02 during midday trading on Wednesday, hitting $65.78. The stock had a trading volume of 308,599 shares, compared to its average volume of 3,652,705. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. The stock has a market cap of $21.56 billion, a P/E ratio of 173.11, a P/E/G ratio of 7.69 and a beta of 1.13. Pure Storage, Inc. has a 12 month low of $34.32 and a 12 month high of $70.41. The business has a fifty day moving average price of $54.86 and a 200 day moving average price of $56.91.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the transaction, the executive now directly owns 94,446 shares of the company’s stock, valued at $4,785,578.82. This trade represents a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 462,853 shares of company stock valued at $25,670,642. 6.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pure Storage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC grew its holdings in Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Pure Storage during the 3rd quarter valued at about $31,000. Venturi Wealth Management LLC grew its stake in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Pure Storage by 174.4% in the 2nd quarter. Blue Trust Inc. now owns 741 shares of the technology company’s stock worth $48,000 after purchasing an additional 471 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Pure Storage during the third quarter valued at approximately $50,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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.