David Hatfield Sells 190,000 Shares of Pure Storage (PSTG) Stock

Pure Storage (NYSE:PSTG) President David Hatfield sold 190,000 shares of the stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $20.94, for a total value of $3,978,600.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

David Hatfield also recently made the following trade(s):

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  • On Thursday, April 5th, David Hatfield sold 12,266 shares of Pure Storage stock. The stock was sold at an average price of $19.89, for a total value of $243,970.74.
  • On Monday, March 19th, David Hatfield sold 200,000 shares of Pure Storage stock. The stock was sold at an average price of $20.15, for a total value of $4,030,000.00.
  • On Monday, January 29th, David Hatfield sold 10,000 shares of Pure Storage stock. The stock was sold at an average price of $20.00, for a total value of $200,000.00.
  • On Tuesday, January 23rd, David Hatfield sold 95,817 shares of Pure Storage stock. The stock was sold at an average price of $18.01, for a total value of $1,725,664.17.

Shares of NYSE PSTG opened at $20.64 on Friday. Pure Storage has a 1-year low of $9.81 and a 1-year high of $22.60.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Thursday, March 1st. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. The company had revenue of $338.30 million for the quarter, compared to analysts’ expectations of $331.80 million. Pure Storage had a negative return on equity of 37.84% and a negative net margin of 17.36%. Pure Storage’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) EPS. equities research analysts predict that Pure Storage will post -0.75 earnings per share for the current year.

A number of brokerages recently issued reports on PSTG. Robert W. Baird reissued a “neutral” rating and set a $22.00 price objective (up previously from $20.00) on shares of Pure Storage in a report on Friday, March 2nd. Vetr cut Pure Storage from a “strong-buy” rating to a “buy” rating and set a $23.58 price objective on the stock. in a report on Thursday, March 15th. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $25.00 price target (up previously from $15.00) on shares of Pure Storage in a report on Friday, March 2nd. BMO Capital Markets raised their price target on Pure Storage from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, March 2nd. Finally, Barclays raised their price target on Pure Storage from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $21.72.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Pure Storage by 11.0% during the 4th quarter. BlackRock Inc. now owns 16,162,210 shares of the technology company’s stock valued at $256,332,000 after buying an additional 1,598,653 shares in the last quarter. Renaissance Technologies LLC raised its stake in Pure Storage by 53.1% during the fourth quarter. Renaissance Technologies LLC now owns 5,887,800 shares of the technology company’s stock valued at $93,381,000 after buying an additional 2,042,985 shares during the last quarter. Millennium Management LLC raised its stake in Pure Storage by 442.0% during the fourth quarter. Millennium Management LLC now owns 2,417,888 shares of the technology company’s stock valued at $38,348,000 after buying an additional 1,971,785 shares during the last quarter. Two Sigma Investments LP raised its stake in Pure Storage by 15.9% during the fourth quarter. Two Sigma Investments LP now owns 1,782,654 shares of the technology company’s stock valued at $28,273,000 after buying an additional 244,884 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Pure Storage by 6.7% during the fourth quarter. Champlain Investment Partners LLC now owns 1,559,095 shares of the technology company’s stock valued at $24,727,000 after buying an additional 98,470 shares during the last quarter. 45.48% of the stock is currently owned by institutional investors.

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About Pure Storage

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

Insider Buying and Selling by Quarter for Pure Storage (NYSE:PSTG)

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