Pure Storage, Inc. (NYSE:PSTG) Insider Sells $1,229,875.76 in Stock

Pure Storage, Inc. (NYSE:PSTG) insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Pure Storage Trading Up 2.8 %

PSTG traded up $1.74 during trading on Friday, reaching $64.23. 1,817,199 shares of the company’s stock were exchanged, compared to its average volume of 1,898,019. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a one year low of $35.35 and a one year high of $70.41. The firm has a fifty day moving average price of $57.07 and a two-hundred day moving average price of $56.89. The stock has a market capitalization of $20.95 billion, a PE ratio of 169.03, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13.

Institutional Trading of Pure Storage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in Pure Storage by 71.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,359 shares of the technology company’s stock worth $87,000 after buying an additional 568 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Pure Storage by 102.5% in the second quarter. Commonwealth Equity Services LLC now owns 31,671 shares of the technology company’s stock worth $2,034,000 after acquiring an additional 16,032 shares during the period. Natixis Advisors LLC boosted its holdings in Pure Storage by 363.4% in the second quarter. Natixis Advisors LLC now owns 117,017 shares of the technology company’s stock valued at $7,514,000 after acquiring an additional 91,766 shares during the last quarter. CIBC Asset Management Inc increased its position in Pure Storage by 9.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,867 shares of the technology company’s stock valued at $569,000 after purchasing an additional 773 shares during the period. Finally, Rhumbline Advisers increased its position in Pure Storage by 12.1% during the 2nd quarter. Rhumbline Advisers now owns 934,752 shares of the technology company’s stock valued at $60,020,000 after purchasing an additional 101,062 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group raised their price target on shares of Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Citigroup raised their target price on shares of Pure Storage from $63.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. TD Cowen boosted their price target on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. increased their target price on Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

About Pure Storage

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.