Pure Storage, Inc. (NYSE:PSTG) CFO P. Kevan Krysler Sells 15,286 Shares

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

Pure Storage Stock Down 4.6 %

Pure Storage stock traded down $2.36 during mid-day trading on Friday, reaching $49.46. 4,791,890 shares of the company were exchanged, compared to its average volume of 4,665,894. The business has a fifty day moving average of $49.93 and a 200 day moving average of $41.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83. The firm has a market cap of $16.07 billion, a P/E ratio of 287.72, a PEG ratio of 6.79 and a beta of 1.15. Pure Storage, Inc. has a 12-month low of $22.14 and a 12-month high of $58.46.

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

Institutional Trading of Pure Storage

Hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new stake in shares of Pure Storage during the 1st quarter valued at $25,000. Naples Money Management LLC purchased a new stake in shares of Pure Storage during the 4th quarter valued at $25,000. LM Advisors LLC purchased a new stake in shares of Pure Storage during the 4th quarter valued at $28,000. Global Retirement Partners LLC purchased a new stake in shares of Pure Storage during the 3rd quarter valued at $28,000. Finally, Principal Securities Inc. purchased a new stake in shares of Pure Storage during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Susquehanna boosted their target price on Pure Storage from $45.00 to $65.00 and gave the stock a “positive” rating in a research report on Thursday, April 11th. KeyCorp boosted their price objective on Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Wedbush reissued an “outperform” rating and set a $50.00 price objective on shares of Pure Storage in a research note on Thursday, February 29th. Bank of America boosted their price objective on Pure Storage from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, Evercore ISI boosted their price objective on Pure Storage from $41.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and an average target price of $51.63.

Pure Storage Company Profile

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.