Pure Storage Inc (NYSE:PSTG) shares fell 6.1% during trading on Monday . The stock traded as low as $20.58 and last traded at $20.75. 3,228,500 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 3,149,362 shares. The stock had previously closed at $22.10.

Several research firms recently commented on PSTG. Credit Suisse Group began coverage on Pure Storage in a research report on Thursday, April 11th. They issued a “neutral” rating and a $23.00 price target for the company. Cowen upgraded Pure Storage from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $20.00 to $30.00 in a research report on Monday, April 8th. Raymond James lowered Pure Storage from an “outperform” rating to a “market perform” rating and set a $18.81 price target for the company. in a research report on Wednesday, February 20th. Zacks Investment Research lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Maxim Group reiterated a “hold” rating and issued a $21.00 price target on shares of Pure Storage in a research report on Friday, March 1st. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.10.

The stock has a market cap of $5.41 billion, a PE ratio of -29.64 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.34 and a quick ratio of 3.25.

Pure Storage (NYSE:PSTG) last announced its earnings results on Thursday, February 28th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02). Pure Storage had a negative net margin of 13.12% and a negative return on equity of 22.64%. The business had revenue of $422.22 million for the quarter, compared to analysts’ expectations of $443.27 million. Analysts forecast that Pure Storage Inc will post -0.53 earnings per share for the current fiscal year.

In other news, CFO Timothy Riitters sold 5,210 shares of Pure Storage stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.92, for a total transaction of $103,783.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Dietzen sold 100,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, April 24th. The shares were 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 564,260 shares of company stock valued at $11,880,961 in the last 90 days. Company insiders own 15.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in Pure Storage in the fourth quarter worth approximately $27,000. Sonora Investment Management LLC raised its stake in Pure Storage by 80.2% in the fourth quarter. Sonora Investment Management LLC now owns 1,910 shares of the technology company’s stock worth $31,000 after buying an additional 850 shares in the last quarter. Sageworth Trust Co bought a new position in Pure Storage in the first quarter worth approximately $37,000. Meeder Asset Management Inc. bought a new position in Pure Storage in the fourth quarter worth approximately $42,000. Finally, Penserra Capital Management LLC raised its stake in Pure Storage by 458.9% in the fourth quarter. Penserra Capital Management LLC now owns 5,008 shares of the technology company’s stock worth $80,000 after buying an additional 4,112 shares in the last quarter. 72.93% of the stock is owned by hedge funds and other institutional investors.

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Pure Storage Company Profile (NYSE:PSTG)

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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