Pure Storage, Inc. (NYSE:PSTG) CRO Sells $570,258.45 in Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of the firm’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 completion of the transaction, the executive now directly owns 72,927 shares in the company, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Pure Storage Price Performance

NYSE:PSTG opened at $63.65 on Friday. The business’s 50-day moving average is $56.44 and its 200 day moving average is $56.97. Pure Storage, Inc. has a 12 month low of $34.32 and a 12 month high of $70.41. The company has a market capitalization of $20.76 billion, a P/E ratio of 167.50, a P/E/G ratio of 7.69 and a beta of 1.13. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PSTG. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley boosted their price objective on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Stifel Nicolaus raised their target price on Pure Storage from $60.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their price target on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.70.

Institutional Trading of Pure Storage

Hedge funds have recently modified their holdings of the company. Nvwm LLC grew its holdings in shares of Pure Storage by 23.3% in the third quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock valued at $52,000 after purchasing an additional 194 shares in the last quarter. Harbour Investments Inc. lifted its position in Pure Storage by 3.0% during the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock valued at $444,000 after purchasing an additional 202 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after buying an additional 219 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its holdings in shares of Pure Storage by 3.6% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 7,461 shares of the technology company’s stock worth $375,000 after buying an additional 259 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other 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.