Insider Selling: Pure Storage, Inc. (NYSE:PSTG) Insider Sells 100,000 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $57.32, for a total value of $5,732,000.00. Following the sale, the insider now directly owns 300,000 shares in the company, valued at $17,196,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

John Colgrove also recently made the following trade(s):

• On Friday, October 4th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $51.01, for a total transaction of $5,101,000.00.
• On Thursday, September 19th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00.
• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00.
• On Monday, August 5th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $52.39, for a total transaction of $5,239,000.00.

Pure Storage Stock Performance

Shares of NYSE:PSTG traded down $0.63 during trading on Wednesday, hitting $52.38. 1,864,959 shares of the stock traded hands, compared to its average volume of 3,757,788. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $53.02 and a two-hundred day moving average price of $56.99. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a market cap of $17.16 billion, a price-to-earnings ratio of 132.48, a P/E/G ratio of 8.95 and a beta of 1.11.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The firm had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. As a group, equities analysts predict that Pure Storage, Inc. will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Guggenheim boosted their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. UBS Group decreased their price target on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Lake Street Capital cut their target price on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Citigroup reduced their price objective on Pure Storage from $75.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Stifel Nicolaus lowered their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.05.

Institutional Investors Weigh In On Pure Storage

A number of hedge funds have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its holdings in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after acquiring an additional 161 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Pure Storage by 242.9% in the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after purchasing an additional 306 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Pure Storage during the 1st quarter worth $25,000. FSC Wealth Advisors LLC purchased a new stake in Pure Storage in the 2nd quarter valued at about $33,000. Finally, Fidelis Capital Partners LLC acquired a new position in Pure Storage in the first quarter valued at about $27,000. Hedge funds and other 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.