Pure Storage Inc. (NYSE:PSTG) CFO Timothy Riitters sold 3,231 shares of the business’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $13.50, for a total transaction of $43,618.50. Following the transaction, the chief financial officer now owns 31,769 shares of the company’s stock, valued at $428,881.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Pure Storage Inc. (NYSE:PSTG) opened at 13.62 on Friday. Pure Storage Inc. has a 12 month low of $9.62 and a 12 month high of $20.60. The stock’s market cap is $2.68 billion. The company’s 50 day moving average is $12.78 and its 200 day moving average is $12.77.
Pure Storage (NYSE:PSTG) last posted its earnings results on Thursday, August 25th. The company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The company earned $163.21 million during the quarter, compared to analysts’ expectations of $155.14 million. Pure Storage had a negative net margin of 38.27% and a negative return on equity of 38.48%. Pure Storage’s quarterly revenue was up 92.8% on a year-over-year basis. During the same period last year, the company posted ($0.33) earnings per share. On average, analysts anticipate that Pure Storage Inc. will post ($0.63) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Raymond James & Associates acquired a new position in shares of Pure Storage during the second quarter worth approximately $133,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Pure Storage during the second quarter worth approximately $140,000. Menta Capital LLC acquired a new position in shares of Pure Storage during the first quarter worth approximately $149,000. Royal Bank of Canada boosted its position in shares of Pure Storage by 5,486.4% in the second quarter. Royal Bank of Canada now owns 13,966 shares of the company’s stock worth $152,000 after buying an additional 13,716 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Pure Storage during the second quarter worth approximately $195,000. 49.91% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on PSTG shares. Robert W. Baird restated a “neutral” rating and set a $12.00 price target on shares of Pure Storage in a research report on Monday, August 22nd. Vetr upgraded shares of Pure Storage from a “hold” rating to a “buy” rating and set a $14.72 price target for the company in a research report on Wednesday. Jefferies Group boosted their price target on shares of Pure Storage from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, August 26th. Morgan Stanley reiterated a “buy” rating and issued a $21.00 target price on shares of Pure Storage in a research report on Monday, September 12th. Finally, Oppenheimer Holdings Inc. upgraded shares of Pure Storage from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Wednesday, August 31st. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $17.47.
About Pure Storage
Pure Storage, Inc provides an enterprise data storage platform. The Company’s storage platform consists of approximately three integrated components, including the Purity Operating Environment, which is its flash-optimized software; FlashArray, which is its modular and scalable all-flash array hardware, and Pure1, which is its cloud-based management and support.
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