Pure Storage Inc (PSTG) Director Michael L. Speiser Sells 4,437,833 Shares
Pure Storage Inc (NYSE:PSTG) Director Michael L. Speiser sold 4,437,833 shares of Pure Storage stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $23.38, for a total value of $103,756,535.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Pure Storage traded down $0.27, hitting $23.78, during trading hours on Wednesday, according to Marketbeat. 1,689,262 shares of the company were exchanged, compared to its average volume of 3,433,444. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.34 and a quick ratio of 4.22. Pure Storage Inc has a 52 week low of $11.99 and a 52 week high of $25.62. The stock has a market capitalization of $5.56 billion, a P/E ratio of -28.16 and a beta of 1.32.
Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Monday, May 21st. The technology company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.05. Pure Storage had a negative return on equity of 35.13% and a negative net margin of 16.38%. The company had revenue of $255.90 million for the quarter, compared to analysts’ expectations of $251.06 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 40.1% on a year-over-year basis. equities research analysts anticipate that Pure Storage Inc will post -0.75 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in shares of Pure Storage during the second quarter valued at approximately $476,000. Brown Advisory Inc. bought a new position in shares of Pure Storage during the first quarter valued at approximately $3,184,000. WealthTrust Fairport LLC bought a new position in shares of Pure Storage during the first quarter valued at approximately $121,000. Diversified Trust Co bought a new position in shares of Pure Storage during the first quarter valued at approximately $205,000. Finally, Principal Financial Group Inc. grew its stake in shares of Pure Storage by 105.4% during the first quarter. Principal Financial Group Inc. now owns 22,552 shares of the technology company’s stock valued at $450,000 after buying an additional 11,574 shares during the last quarter. 57.37% of the stock is currently owned by hedge funds and other institutional investors.
Pure Storage Company Profile
Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.
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