Pure Storage, Inc. (NYSE:PSTG) CFO Sells $807,100.80 in Stock

Pure Storage, Inc. (NYSE:PSTG) CFO P. Kevan Krysler sold 15,286 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total transaction of $807,100.80. Following the transaction, the chief financial officer now owns 507,824 shares of the company’s stock, valued at approximately $26,813,107.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Pure Storage Trading Down 4.6 %

Shares of PSTG opened at $49.46 on Monday. The firm’s 50-day moving average is $50.02 and its two-hundred day moving average is $41.26. The firm has a market capitalization of $16.07 billion, a P/E ratio of 290.96, a PEG ratio of 6.42 and a beta of 1.15. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. The business had revenue of $789.81 million for the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 earnings per share. On average, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Pure Storage

Several large investors have recently modified their holdings of PSTG. Norges Bank acquired a new stake in shares of Pure Storage in the fourth quarter valued at approximately $90,143,000. Price T Rowe Associates Inc. MD raised its stake in Pure Storage by 24.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,091,077 shares of the technology company’s stock worth $359,464,000 after purchasing an additional 2,807,489 shares during the period. Assenagon Asset Management S.A. raised its stake in Pure Storage by 5,725.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,614,837 shares of the technology company’s stock worth $57,520,000 after purchasing an additional 1,587,116 shares during the period. Spyglass Capital Management LLC purchased a new position in Pure Storage during the fourth quarter worth approximately $36,678,000. Finally, Acadian Asset Management LLC raised its stake in shares of Pure Storage by 61.5% in the 3rd quarter. Acadian Asset Management LLC now owns 3,399,759 shares of the technology company’s stock valued at $121,081,000 after acquiring an additional 1,294,285 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Pure Storage from $42.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. UBS Group boosted their price target on shares of Pure Storage from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Stifel Nicolaus boosted their price target on shares of Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley boosted their price target on shares of Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, TD Cowen boosted their price target on shares of Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

About Pure Storage

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.