Pure Storage (NYSE:PSTG) released its quarterly earnings data on Tuesday. The technology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.08), Morningstar.com reports. The business had revenue of $326.70 million for the quarter, compared to the consensus estimate of $333.83 million. Pure Storage had a negative return on equity of 26.00% and a negative net margin of 14.99%. Pure Storage updated its FY 2020 guidance to EPS and its Q2 2020 guidance to EPS.

Shares of Pure Storage stock opened at $15.50 on Thursday. The stock has a market cap of $5.05 billion, a P/E ratio of -22.14 and a beta of 1.71. The company has a quick ratio of 3.25, a current ratio of 3.34 and a debt-to-equity ratio of 0.61. Pure Storage has a 12-month low of $13.99 and a 12-month high of $29.14.

In related news, CFO Timothy Riitters sold 5,210 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.92, for a total transaction of $103,783.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Dietzen sold 100,000 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $23.05, for a total transaction of $2,305,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 564,260 shares of company stock valued at $11,880,961 in the last quarter. 10.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new stake in Pure Storage in the 4th quarter valued at about $27,000. Sageworth Trust Co acquired a new stake in Pure Storage in the 1st quarter valued at about $37,000. Sonora Investment Management LLC increased its position in Pure Storage by 80.2% in the 4th quarter. Sonora Investment Management LLC now owns 1,910 shares of the technology company’s stock valued at $31,000 after acquiring an additional 850 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Pure Storage in the 4th quarter valued at about $42,000. Finally, Coastal Investment Advisors Inc. acquired a new stake in Pure Storage in the 1st quarter valued at about $70,000. Institutional investors and hedge funds own 77.83% of the company’s stock.

PSTG has been the subject of a number of analyst reports. Wells Fargo & Co reduced their price objective on shares of Pure Storage from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday. ValuEngine downgraded shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Lake Street Capital reduced their price objective on shares of Pure Storage to $26.00 and set a “buy” rating for the company in a report on Friday, March 1st. Raymond James downgraded shares of Pure Storage from an “outperform” rating to a “market perform” rating and set a $18.81 price objective for the company. in a report on Wednesday, February 20th. Finally, Cowen raised shares of Pure Storage from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $30.00 in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Pure Storage presently has a consensus rating of “Buy” and a consensus target price of $25.04.

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About Pure Storage

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 and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.

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Earnings History for Pure Storage (NYSE:PSTG)

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