Pure Storage (NYSE:PSTG) Shares Up 0.3%

Pure Storage, Inc. (NYSE:PSTG)’s share price traded up 0.3% during mid-day trading on Thursday . The stock traded as high as $52.55 and last traded at $52.49. 488,640 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 4,642,182 shares. The stock had previously closed at $52.32.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group upped their target price on Pure Storage from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. KeyCorp increased their price target on Pure Storage from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. TD Cowen increased their price target on Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Barclays increased their price target on Pure Storage from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Evercore ISI increased their price target on Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.53.

Pure Storage Trading Down 1.4 %

The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 308.78, a PEG ratio of 6.92 and a beta of 1.15. The company has a 50-day moving average price of $49.77 and a 200 day moving average price of $41.00. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.17 by $0.10. The business had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. Pure Storage’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pure Storage news, Director Andrew William Fraser Brown sold 20,564 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the transaction, the director now directly owns 24,400 shares in the company, valued at $1,276,364. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Ajay Singh sold 37,588 shares of Pure Storage stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the completion of the transaction, the insider now owns 380,834 shares in the company, valued at $20,389,852.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 20,564 shares of Pure Storage stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the completion of the transaction, the director now owns 24,400 shares of the company’s stock, valued at approximately $1,276,364. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,012 shares of company stock worth $12,932,788. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Oak Thistle LLC bought a new position in shares of Pure Storage in the first quarter valued at approximately $448,000. Future Financial Wealth Managment LLC bought a new position in Pure Storage in the 1st quarter worth approximately $73,000. Brookstone Capital Management raised its position in Pure Storage by 7.3% in the 1st quarter. Brookstone Capital Management now owns 8,627 shares of the technology company’s stock worth $449,000 after purchasing an additional 584 shares during the last quarter. FCF Advisors LLC raised its position in Pure Storage by 10.8% in the 1st quarter. FCF Advisors LLC now owns 44,382 shares of the technology company’s stock worth $2,307,000 after purchasing an additional 4,319 shares during the last quarter. Finally, Radnor Capital Management LLC raised its position in Pure Storage by 4.4% in the 1st quarter. Radnor Capital Management LLC now owns 18,820 shares of the technology company’s stock worth $978,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

About Pure Storage

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.