Pure Storage, Inc. (PSTG) Given Positive Rating at Susquehanna Bancshares Inc
Susquehanna Bancshares Inc reaffirmed their positive rating on shares of Pure Storage, Inc. (NYSE:PSTG) in a report issued on Thursday. They currently have a $20.00 target price on the technology company’s stock, up from their prior target price of $18.00.
Several other research firms also recently weighed in on PSTG. Jefferies Group LLC reissued a hold rating and set a $13.50 price target on shares of Pure Storage in a research report on Friday, August 25th. ValuEngine raised Pure Storage from a sell rating to a hold rating in a research report on Saturday, August 26th. BidaskClub raised Pure Storage from a hold rating to a buy rating in a research report on Tuesday, June 27th. Morgan Stanley reissued an equal weight rating on shares of Pure Storage in a research report on Saturday, September 23rd. Finally, Maxim Group reissued a hold rating and set a $15.00 price target on shares of Pure Storage in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $15.95.
Shares of Pure Storage (PSTG) traded down 2.39% during mid-day trading on Thursday, hitting $15.55. The company had a trading volume of 910,732 shares. Pure Storage has a 12 month low of $9.12 and a 12 month high of $16.35. The firm has a 50-day moving average price of $14.68 and a 200 day moving average price of $12.57. The firm’s market capitalization is $3.29 billion.
Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.20. The company had revenue of $224.50 million during the quarter, compared to the consensus estimate of $217.97 million. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. Pure Storage’s revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. On average, equities research analysts forecast that Pure Storage will post ($0.22) earnings per share for the current fiscal year.
In other Pure Storage news, President David Hatfield sold 40,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $16.00, for a total transaction of $640,000.00. Following the completion of the sale, the president now owns 225,190 shares of the company’s stock, valued at $3,603,040. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Riitters sold 5,000 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $14.56, for a total value of $72,800.00. Following the sale, the chief financial officer now directly owns 282,200 shares of the company’s stock, valued at approximately $4,108,832. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,000 shares of company stock valued at $2,363,950. 46.58% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its position in Pure Storage by 38.8% during the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock valued at $105,000 after acquiring an additional 2,284 shares during the period. First Trust Advisors LP purchased a new stake in Pure Storage during the first quarter valued at about $135,000. Point72 Asia Hong Kong Ltd grew its position in Pure Storage by 34.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 13,815 shares of the technology company’s stock valued at $136,000 after acquiring an additional 3,557 shares during the period. BNP Paribas Arbitrage SA grew its position in Pure Storage by 641.5% during the second quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock valued at $149,000 after acquiring an additional 10,078 shares during the period. Finally, Amalgamated Bank purchased a new stake in Pure Storage during the second quarter valued at about $151,000. 35.30% of the stock is owned by hedge funds and other institutional investors.
Pure Storage Company Profile
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.
Receive News & Ratings for Pure Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.