Pure Storage (PSTG) PT Raised to $25.00 at BMO Capital Markets
Pure Storage (NYSE:PSTG) had its target price hoisted by BMO Capital Markets from $22.00 to $25.00 in a research report report published on Friday. They currently have an outperform rating on the technology company’s stock.
Other research analysts have also issued reports about the company. KeyCorp reaffirmed a buy rating and set a $24.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. Oppenheimer reaffirmed a buy rating and set a $21.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. Lake Street Capital set a $21.00 target price on Pure Storage and gave the stock a buy rating in a report on Wednesday, November 29th. They noted that the move was a valuation call. UBS Group reaffirmed a buy rating and set a $22.00 target price (up from $18.00) on shares of Pure Storage in a report on Wednesday, November 29th. Finally, Vetr cut Pure Storage from a strong-buy rating to a buy rating and set a $21.96 price target on the stock. in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $21.31.
Pure Storage (NYSE:PSTG) traded down $0.40 during trading hours on Friday, reaching $21.38. The company had a trading volume of 5,664,255 shares, compared to its average volume of 2,284,012. The firm has a market capitalization of $4,721.51, a price-to-earnings ratio of -25.45 and a beta of 1.23. Pure Storage has a 1 year low of $9.12 and a 1 year high of $22.60.
In other Pure Storage news, CFO Timothy Riitters sold 11,749 shares of Pure Storage stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $16.74, for a total transaction of $196,678.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Scott Dietzen sold 125,000 shares of Pure Storage stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $21.37, for a total value of $2,671,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 872,362 shares of company stock worth $15,881,614. Company insiders own 46.58% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Meitav Dash Investments Ltd. purchased a new position in Pure Storage during the 4th quarter valued at about $790,000. MetLife Investment Advisors LLC purchased a new position in Pure Storage during the 4th quarter valued at about $698,000. Verition Fund Management LLC purchased a new position in Pure Storage during the 4th quarter valued at about $682,000. Millennium Management LLC grew its stake in Pure Storage by 442.0% during the 4th quarter. Millennium Management LLC now owns 2,417,888 shares of the technology company’s stock valued at $38,348,000 after acquiring an additional 1,971,785 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in Pure Storage during the 4th quarter valued at about $879,000. 43.82% of the stock is currently owned by institutional investors.
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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.
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