Timothy Riitters Sells 15,175 Shares of Pure Storage, Inc. (PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) CFO Timothy Riitters sold 15,175 shares of the company’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $15.55, for a total transaction of $235,971.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Timothy Riitters also recently made the following trade(s):

  • On Monday, October 2nd, Timothy Riitters sold 25,000 shares of Pure Storage stock. The stock was sold at an average price of $15.85, for a total transaction of $396,250.00.
  • On Friday, September 8th, Timothy Riitters sold 5,000 shares of Pure Storage stock. The stock was sold at an average price of $14.56, for a total transaction of $72,800.00.
  • On Friday, September 1st, Timothy Riitters sold 55,000 shares of Pure Storage stock. The stock was sold at an average price of $14.82, for a total transaction of $815,100.00.

Shares of Pure Storage, Inc. (NYSE:PSTG) opened at 16.00 on Friday. The firm’s market capitalization is $3.38 billion. The company’s 50-day moving average is $15.12 and its 200 day moving average is $12.77. Pure Storage, Inc. has a 52-week low of $9.12 and a 52-week high of $16.35.

Pure Storage (NYSE:PSTG) last announced its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted ($0.16) EPS. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. Equities analysts expect that Pure Storage, Inc. will post ($0.22) earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in PSTG. BlackRock Inc. increased its stake in shares of Pure Storage by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,513,166 shares of the technology company’s stock valued at $185,913,000 after acquiring an additional 863,990 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Pure Storage by 26.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock valued at $90,427,000 after acquiring an additional 1,489,008 shares during the last quarter. FMR LLC increased its stake in shares of Pure Storage by 10.9% during the 2nd quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock valued at $81,467,000 after acquiring an additional 622,600 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Pure Storage by 5.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,097,439 shares of the technology company’s stock valued at $39,679,000 after acquiring an additional 146,411 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Pure Storage by 91.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,461,000 shares of the technology company’s stock valued at $31,525,000 after acquiring an additional 1,177,000 shares during the last quarter. 35.30% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on the stock. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $20.00 target price (up from $18.00) on shares of Pure Storage in a research report on Thursday, October 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 target price (up from $15.00) on shares of Pure Storage in a research report on Friday, August 25th. ValuEngine cut shares of Pure Storage from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. BidaskClub cut shares of Pure Storage from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, UBS AG reiterated a “buy” rating and issued a $18.00 target price (up from $15.00) on shares of Pure Storage in a research report on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pure Storage presently has an average rating of “Buy” and a consensus target price of $15.95.

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.

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

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