Pure Storage, Inc. (NYSE:PSTG)‘s stock had its “buy” rating restated by investment analysts at KeyCorp in a research report issued on Wednesday.

PSTG has been the subject of a number of other research reports. William Blair reissued an “ourperform” rating on shares of Pure Storage in a report on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and issued a $13.50 price target on shares of Pure Storage in a report on Friday, August 25th. Robert W. Baird set a $14.00 price target on Pure Storage and gave the company a “hold” rating in a report on Monday, August 14th. Maxim Group downgraded Pure Storage from a “buy” rating to a “hold” rating and reduced their price target for the company from $20.00 to $15.00 in a report on Monday, August 14th. Finally, BidaskClub downgraded Pure Storage from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.36.

Pure Storage (NYSE:PSTG) last issued its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.20. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. The company had revenue of $224.50 million during the quarter, compared to the consensus estimate of $217.97 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. The company’s revenue was up 37.6% compared to the same quarter last year.

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In other news, President David Hatfield sold 30,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $14.66, for a total transaction of $439,800.00. Following the sale, the president now directly owns 215,190 shares in the company, valued at approximately $3,154,685.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Riitters sold 55,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $14.82, for a total value of $815,100.00. Following the sale, the chief financial officer now owns 332,200 shares in the company, valued at $4,923,204. The disclosure for this sale can be found here. Insiders have sold a total of 242,028 shares of company stock worth $3,773,235 over the last quarter. Insiders own 46.58% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Pure Storage by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,513,166 shares of the technology company’s stock worth $185,913,000 after purchasing an additional 863,990 shares during the period. Vanguard Group Inc. raised its position in shares of Pure Storage by 26.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock worth $90,427,000 after purchasing an additional 1,489,008 shares during the period. FMR LLC raised its position in shares of Pure Storage by 10.9% during the 2nd quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock worth $81,467,000 after purchasing an additional 622,600 shares during the period. Franklin Resources Inc. raised its position in shares of Pure Storage by 5.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,097,439 shares of the technology company’s stock worth $39,679,000 after purchasing an additional 146,411 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Pure Storage by 91.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,461,000 shares of the technology company’s stock worth $31,525,000 after purchasing an additional 1,177,000 shares during the period. Institutional investors and hedge funds own 35.45% of the company’s stock.

About Pure Storage

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

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