Insider Selling: Pure Storage, Inc. (NYSE:PSTG) CRO Sells 8,895 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now owns 72,927 shares of the company’s stock, valued at $4,675,349.97. The trade was a 10.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Pure Storage Stock Performance

Shares of Pure Storage stock traded up $0.65 during trading hours on Thursday, reaching $65.40. The company’s stock had a trading volume of 1,820,289 shares, compared to its average volume of 3,659,861. The stock has a market cap of $21.34 billion, a P/E ratio of 172.11, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13. Pure Storage, Inc. has a one year low of $34.32 and a one year high of $70.41. The company’s 50 day simple moving average is $56.13 and its 200 day simple moving average is $57.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.74 and a current ratio of 1.77.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI raised their price target on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC upped their target price on shares of Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Raymond James lowered their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.70.

Hedge Funds Weigh In On Pure Storage

Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in shares of Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after purchasing an additional 1,730,123 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Pure Storage by 22.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company’s stock valued at $204,163,000 after purchasing an additional 747,034 shares during the last quarter. State Street Corp grew its position in Pure Storage by 6.5% in the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after purchasing an additional 626,427 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Pure Storage in the third quarter valued at approximately $20,470,000. Finally, FMR LLC raised its holdings in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after buying an additional 368,643 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.