Pure Storage, Inc. (NYSE:PSTG) CRO Sells $309,900.00 in Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 6,000 shares of Pure Storage stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $51.65, for a total value of $309,900.00. Following the transaction, the executive now directly owns 75,965 shares in the company, valued at approximately $3,923,592.25. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dan Fitzsimons also recently made the following trade(s):

• On Monday, May 12th, Dan Fitzsimons sold 872 shares of Pure Storage stock. The stock was sold at an average price of $51.51, for a total transaction of $44,916.72.
• On Monday, April 21st, Dan Fitzsimons sold 6,977 shares of Pure Storage stock. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07.

Pure Storage Stock Up 3.3%

Shares of NYSE:PSTG traded up $1.68 during trading on Monday, reaching $53.26. The stock had a trading volume of 2,677,712 shares, compared to its average volume of 2,943,805. The stock has a fifty day simple moving average of $50.58 and a two-hundred day simple moving average of $56.03. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67. The firm has a market capitalization of $17.41 billion, a price-to-earnings ratio of 95.52, a P/E/G ratio of 4.92 and a beta of 1.05.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. Pure Storage’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS. On average, analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Pure Storage

Several hedge funds and other institutional investors have recently made changes to their positions in PSTG. Bank Pictet & Cie Europe AG boosted its position in shares of Pure Storage by 23.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company’s stock valued at $565,000 after acquiring an additional 1,740 shares during the period. CIBC Asset Management Inc raised its stake in Pure Storage by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,679 shares of the technology company’s stock valued at $595,000 after purchasing an additional 500 shares during the last quarter. Truist Financial Corp raised its stake in Pure Storage by 6.8% during the 4th quarter. Truist Financial Corp now owns 14,032 shares of the technology company’s stock valued at $862,000 after purchasing an additional 890 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Pure Storage by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 17,358 shares of the technology company’s stock valued at $1,066,000 after purchasing an additional 258 shares during the period. Finally, Global Retirement Partners LLC grew its position in Pure Storage by 48.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,981 shares of the technology company’s stock worth $122,000 after purchasing an additional 649 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSTG has been the topic of several research analyst reports. Barclays lowered their price target on shares of Pure Storage from $61.00 to $57.00 and set an “equal weight” rating on the stock in a report on Thursday, May 29th. Citigroup lifted their price objective on Pure Storage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 16th. UBS Group upped their target price on Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price target (up from $53.00) on shares of Pure Storage in a research note on Thursday, May 29th. Finally, Bank of America lowered their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $69.95.

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.