Pure Storage (NYSE:PSTG) Stock Price Up 0.5%

Shares of Pure Storage, Inc. (NYSE:PSTG) shot up 0.5% on Friday . The stock traded as high as $66.45 and last traded at $65.49. 515,593 shares were traded during mid-day trading, a decline of 88% from the average session volume of 4,278,393 shares. The stock had previously closed at $65.18.

Analysts Set New Price Targets

Several brokerages recently weighed in on PSTG. Bank of America increased their price target on Pure Storage from $57.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Susquehanna increased their price target on Pure Storage from $75.00 to $80.00 and gave the stock a “positive” rating in a report on Friday, June 21st. Morgan Stanley downgraded Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 price target for the company. in a report on Wednesday, June 12th. Guggenheim reaffirmed a “buy” rating and set a $72.00 price target on shares of Pure Storage in a report on Tuesday. Finally, Barclays increased their price target on Pure Storage from $51.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.95.

Pure Storage Trading Down 0.9 %

The stock has a market cap of $21.01 billion, a PE ratio of 233.89, a PEG ratio of 6.32 and a beta of 1.06. The business has a 50-day moving average of $59.40 and a 200 day moving average of $49.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 2.00.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $693.48 million during the quarter, compared to analysts’ expectations of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. Equities research analysts predict that Pure Storage, Inc. will post 0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the sale, the insider now directly owns 380,834 shares of the company’s stock, valued at approximately $20,389,852.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Mallun Yen sold 4,818 shares of Pure Storage stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $64.78, for a total value of $312,110.04. Following the transaction, the director now directly owns 35,498 shares of the company’s stock, valued at approximately $2,299,560.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the transaction, the insider now directly owns 380,834 shares in the company, valued at $20,389,852.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 291,399 shares of company stock valued at $15,578,814. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC increased its holdings in Pure Storage by 9.8% during the 3rd quarter. HighTower Advisors LLC now owns 13,240 shares of the technology company’s stock worth $472,000 after purchasing an additional 1,185 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Pure Storage by 43.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 15,469 shares of the technology company’s stock valued at $551,000 after acquiring an additional 4,669 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Pure Storage by 82.1% in the 3rd quarter. Invesco Ltd. now owns 517,692 shares of the technology company’s stock valued at $18,440,000 after acquiring an additional 233,389 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Pure Storage by 322.2% in the 3rd quarter. Hsbc Holdings PLC now owns 64,872 shares of the technology company’s stock valued at $2,303,000 after acquiring an additional 94,072 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of Pure Storage by 2.9% in the 3rd quarter. Mariner LLC now owns 19,548 shares of the technology company’s stock valued at $696,000 after acquiring an additional 553 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

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.