Pure Storage (NYSE:PSTG) Trading Up 1.9%

Pure Storage, Inc. (NYSE:PSTG) shares were up 1.9% during trading on Monday . The stock traded as high as $51.96 and last traded at $51.29. Approximately 5,347,800 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 3,917,364 shares. The stock had previously closed at $50.32.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PSTG shares. Barclays boosted their price target on Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. TD Cowen cut their price objective on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday. Northland Securities reaffirmed a “market perform” rating and set a $59.00 price objective (down from $68.00) on shares of Pure Storage in a research report on Thursday. Stifel Nicolaus cut their price objective on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC dropped their price target on Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.95.

Pure Storage Stock Up 1.9 %

The business has a fifty day simple moving average of $60.47 and a 200 day simple moving average of $56.77. The firm has a market cap of $16.68 billion, a price-to-earnings ratio of 183.18, a PEG ratio of 5.40 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Insider Buying and Selling at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $52.39, for a total value of $5,239,000.00. Following the completion of the sale, the insider now owns 800,000 shares of the company’s stock, valued at $41,912,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $52.39, for a total value of $5,239,000.00. Following the completion of the sale, the insider now owns 800,000 shares of the company’s stock, valued at $41,912,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 9,881 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $59.32, for a total value of $586,140.92. Following the sale, the executive now directly owns 115,601 shares of the company’s stock, valued at approximately $6,857,451.32. The disclosure for this sale can be found here. Insiders sold 328,995 shares of company stock valued at $19,175,193 over the last quarter. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pure Storage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSTG. Truist Financial Corp boosted its position in shares of Pure Storage by 10.0% during the fourth quarter. Truist Financial Corp now owns 9,141 shares of the technology company’s stock worth $326,000 after buying an additional 830 shares during the period. Kestra Private Wealth Services LLC boosted its position in shares of Pure Storage by 19.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,406 shares of the technology company’s stock worth $264,000 after buying an additional 1,226 shares during the period. Amalgamated Bank boosted its position in shares of Pure Storage by 9.4% during the fourth quarter. Amalgamated Bank now owns 74,235 shares of the technology company’s stock worth $2,647,000 after buying an additional 6,361 shares during the period. Private Advisor Group LLC boosted its position in shares of Pure Storage by 44.1% during the fourth quarter. Private Advisor Group LLC now owns 11,235 shares of the technology company’s stock worth $401,000 after buying an additional 3,437 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Pure Storage by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,946,321 shares of the technology company’s stock worth $69,406,000 after buying an additional 98,453 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

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.