Insider Selling: Pure Storage, Inc. (NYSE:PSTG) CFO Sells $911,941.84 in Stock

Pure Storage, Inc. (NYSE:PSTG) CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the sale, the chief financial officer now owns 518,623 shares of the company’s stock, valued at approximately $33,082,961.17. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

P. Kevan Krysler also recently made the following trade(s):

• On Wednesday, April 17th, P. Kevan Krysler sold 15,286 shares of Pure Storage stock. The shares were sold at an average price of $52.80, for a total value of $807,100.80.

Pure Storage Price Performance

Shares of PSTG opened at $65.31 on Friday. The company has a market cap of $21.24 billion, a P/E ratio of 233.25, a PEG ratio of 6.57 and a beta of 1.11. The stock has a fifty day moving average price of $62.13 and a 200 day moving average price of $51.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $693.48 million during the quarter, compared to the consensus estimate of $681.37 million. Pure Storage had a return on equity of 15.34% and a net margin of 3.19%. On average, research analysts forecast that Pure Storage, Inc. will post 0.47 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on PSTG shares. JPMorgan Chase & Co. lifted their price target on Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Evercore ISI boosted their target price on Pure Storage from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Northland Capmk cut Pure Storage from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 30th. Lake Street Capital boosted their target price on Pure Storage from $48.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley cut Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 target price for the company. in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PSTG. Canandaigua National Bank & Trust Co. acquired a new position in shares of Pure Storage during the second quarter valued at $337,000. Linden Thomas Advisory Services LLC acquired a new position in Pure Storage during the second quarter worth about $1,240,000. Gulf International Bank UK Ltd acquired a new position in Pure Storage during the second quarter worth about $1,936,000. CWM LLC grew its holdings in Pure Storage by 37.0% during the second quarter. CWM LLC now owns 8,252 shares of the technology company’s stock worth $530,000 after acquiring an additional 2,228 shares during the period. Finally, City State Bank grew its holdings in Pure Storage by 175.0% during the second quarter. City State Bank now owns 550 shares of the technology company’s stock worth $35,000 after acquiring an additional 350 shares during the period. Institutional investors own 83.42% of the company’s stock.

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.