Andrew William Fraser Brown Sells 20,564 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) Director Andrew William Fraser Brown sold 20,564 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the transaction, the director now owns 24,400 shares in the company, valued at approximately $1,276,364. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pure Storage Stock Down 0.9 %

NYSE:PSTG opened at $51.83 on Friday. The firm has a market cap of $16.84 billion, a PE ratio of 304.90, a price-to-earnings-growth ratio of 6.92 and a beta of 1.15. The company has a 50-day moving average of $49.93 and a 200 day moving average of $41.07. Pure Storage, Inc. has a 1-year low of $22.14 and a 1-year high of $58.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80.

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 during 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 firm posted $0.27 earnings per share. As a group, research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSTG shares. Morgan Stanley boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. TD Cowen upped their price target on shares of Pure Storage from $42.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. KeyCorp upped their price target on shares of Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of Pure Storage in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.53.

Institutional Trading of Pure Storage

Several hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of Pure Storage by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock valued at $1,928,000 after buying an additional 242 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in Pure Storage by 1.0% in the 4th quarter. Cetera Advisor Networks LLC now owns 25,839 shares of the technology company’s stock worth $921,000 after purchasing an additional 264 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Pure Storage by 2.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 13,300 shares of the technology company’s stock worth $474,000 after purchasing an additional 356 shares in the last quarter. LPL Financial LLC boosted its stake in Pure Storage by 0.3% in the 2nd quarter. LPL Financial LLC now owns 120,438 shares of the technology company’s stock worth $3,096,000 after purchasing an additional 357 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in Pure Storage by 2.2% in the 4th quarter. Cetera Advisors LLC now owns 17,066 shares of the technology company’s stock worth $457,000 after purchasing an additional 368 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

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.