Pure Storage, Inc. (PSTG) Rating Lowered to Sell at BidaskClub

Pure Storage, Inc. (NYSE:PSTG) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

PSTG has been the subject of a number of other reports. Summit Redstone upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Robert W. Baird reaffirmed a “hold” rating and set a $14.00 price target on shares of Pure Storage in a research report on Wednesday, June 14th. KeyCorp lifted their price target on shares of Pure Storage from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, August 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 price target (up from $13.00) on shares of Pure Storage in a research report on Friday, August 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price target (up from $15.00) on shares of Pure Storage in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $15.95.

Shares of Pure Storage (PSTG) opened at 16.00 on Wednesday. The firm’s market capitalization is $3.38 billion. The firm’s 50-day moving average is $15.12 and its 200-day moving average is $12.77. Pure Storage has a 12-month low of $9.12 and a 12-month high of $16.35.

Pure Storage (NYSE:PSTG) last released its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The firm had revenue of $224.50 million during the quarter, compared to the consensus estimate of $217.97 million. During the same period in the previous year, the firm earned ($0.16) earnings per share. Pure Storage’s revenue was up 37.6% compared to the same quarter last year. Equities research analysts forecast that Pure Storage will post ($0.22) EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Pure Storage, Inc. (PSTG) Rating Lowered to Sell at BidaskClub” was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.tickerreport.com/banking-finance/2956406/pure-storage-inc-pstg-rating-lowered-to-sell-at-bidaskclub.html.

In related news, President David Hatfield sold 40,000 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $16.00, for a total value of $640,000.00. Following the sale, the president now directly owns 225,190 shares of the company’s stock, valued at $3,603,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Riitters sold 15,175 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $15.55, for a total transaction of $235,971.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,028 shares of company stock worth $2,628,735. Corporate insiders own 46.58% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in Pure Storage by 0.3% in the first quarter. Wells Fargo & Company MN now owns 57,389 shares of the technology company’s stock valued at $564,000 after acquiring an additional 150 shares in the last quarter. First Trust Advisors LP raised its holdings in Pure Storage by 14.0% in the second quarter. First Trust Advisors LP now owns 15,607 shares of the technology company’s stock valued at $200,000 after acquiring an additional 1,919 shares in the last quarter. Gradient Investments LLC raised its holdings in Pure Storage by 10.3% in the second quarter. Gradient Investments LLC now owns 22,710 shares of the technology company’s stock valued at $291,000 after acquiring an additional 2,122 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Pure Storage by 38.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,284 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd raised its holdings in Pure Storage by 34.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 13,815 shares of the technology company’s stock valued at $136,000 after acquiring an additional 3,557 shares in the last quarter. 35.30% of the stock is currently owned by hedge funds and other institutional investors.

About Pure Storage

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

Receive News & Ratings for Pure Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.