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.

PSTG has been the topic of several research reports. Deutsche Bank initiated coverage on Pure Storage in a report on Monday, April 16th. They issued a “buy” rating and a $24.00 target price on the stock. Vetr cut Pure Storage from a “strong-buy” rating to a “buy” rating and set a $23.58 target price on the stock. in a report on Thursday, March 15th. KeyCorp lifted their target price on Pure Storage from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, May 22nd. BMO Capital Markets lifted their target price on Pure Storage from $25.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, May 22nd. Finally, Summit Insights raised Pure Storage to a “buy” rating in a report on Tuesday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $23.45.

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.

Insider Buying and Selling by Quarter for Pure Storage (NYSE:PSTG)

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