ValuEngine upgraded shares of Pure Storage (NYSE:PSTG) from a sell rating to a hold rating in a report issued on Friday.

Other equities research analysts have also recently issued reports about the stock. UBS Group reaffirmed a buy rating and set a $22.00 price target (up from $18.00) on shares of Pure Storage in a research note on Wednesday, November 29th. Lake Street Capital set a $21.00 price target on shares of Pure Storage and gave the stock a buy rating in a research note on Wednesday, November 29th. They noted that the move was a valuation call. KeyCorp reaffirmed a buy rating on shares of Pure Storage in a research note on Wednesday, November 1st. BTIG Research raised their target price on shares of Pure Storage from $14.00 to $20.00 and gave the stock a buy rating in a research report on Thursday, October 19th. Finally, Oppenheimer reissued a buy rating and issued a $21.00 target price on shares of Pure Storage in a research report on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pure Storage currently has an average rating of Buy and a consensus price target of $19.08.

Shares of Pure Storage (NYSE PSTG) opened at $19.04 on Friday. Pure Storage has a 12 month low of $9.12 and a 12 month high of $21.23. The stock has a market cap of $4,130.00 and a PE ratio of -18.49.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The company had revenue of $277.70 million for the quarter, compared to analysts’ expectations of $272.07 million. During the same period last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. research analysts predict that Pure Storage will post -0.93 EPS for the current year.

In related news, President David Hatfield sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Timothy Riitters sold 15,747 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $16.40, for a total transaction of $258,250.80. The disclosure for this sale can be found here. Insiders sold 877,362 shares of company stock worth $15,556,864 in the last 90 days. 41.47% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. raised its holdings in Pure Storage by 38.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock valued at $105,000 after buying an additional 2,284 shares during the period. Fortaleza Asset Management Inc. purchased a new stake in shares of Pure Storage during the fourth quarter valued at approximately $154,000. SG Americas Securities LLC purchased a new stake in shares of Pure Storage during the fourth quarter valued at approximately $162,000. Great West Life Assurance Co. Can raised its stake in shares of Pure Storage by 151.3% during the third quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock valued at $180,000 after purchasing an additional 6,810 shares during the period. Finally, Invictus RG purchased a new stake in shares of Pure Storage during the third quarter valued at approximately $187,000. Hedge funds and other institutional investors own 37.57% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

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