Insider Selling: Pure Storage Inc (NYSE:PSTG) CFO Sells $185,371.80 in Stock

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Pure Storage Inc (NYSE:PSTG) CFO Timothy Riitters sold 10,420 shares of Pure Storage stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.79, for a total transaction of $185,371.80.

Timothy Riitters also recently made the following trade(s):

  • On Thursday, August 29th, Timothy Riitters sold 10,420 shares of Pure Storage stock. The shares were sold at an average price of $15.78, for a total transaction of $164,427.60.
  • On Thursday, June 27th, Timothy Riitters sold 10,420 shares of Pure Storage stock. The shares were sold at an average price of $15.59, for a total transaction of $162,447.80.

Pure Storage stock opened at $17.72 on Thursday. The firm has a market capitalization of $4.54 billion, a PE ratio of -25.31 and a beta of 1.74. The company’s 50-day moving average is $15.30 and its 200-day moving average is $18.04. Pure Storage Inc has a fifty-two week low of $12.68 and a fifty-two week high of $28.87. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.21 and a quick ratio of 3.14.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, August 21st. The technology company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. The company had revenue of $396.30 million for the quarter, compared to analyst estimates of $392.34 million. Pure Storage had a negative net margin of 14.51% and a negative return on equity of 25.22%. Pure Storage’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. As a group, analysts expect that Pure Storage Inc will post -0.7 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in PSTG. Dimensional Fund Advisors LP increased its stake in shares of Pure Storage by 33.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 446,035 shares of the technology company’s stock worth $7,172,000 after purchasing an additional 112,438 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Pure Storage by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,556,348 shares of the technology company’s stock worth $25,026,000 after purchasing an additional 37,773 shares during the last quarter. Comerica Bank increased its stake in shares of Pure Storage by 29.7% during the 1st quarter. Comerica Bank now owns 50,209 shares of the technology company’s stock worth $1,169,000 after purchasing an additional 11,486 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Pure Storage by 2.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 176,906 shares of the technology company’s stock worth $3,855,000 after purchasing an additional 3,550 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Pure Storage by 73.2% during the 1st quarter. Raymond James & Associates now owns 140,712 shares of the technology company’s stock worth $3,066,000 after purchasing an additional 59,476 shares during the last quarter. Institutional investors own 77.26% of the company’s stock.

Several brokerages have issued reports on PSTG. KeyCorp lowered their price target on shares of Pure Storage from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Susquehanna Bancshares upgraded shares of Pure Storage from a “neutral” rating to a “positive” rating and lifted their price target for the company from $16.00 to $25.00 in a research note on Monday, September 9th. Cowen reiterated an “outperform” rating and issued a $23.00 price target (down from $28.00) on shares of Pure Storage in a research note on Thursday, August 22nd. Stifel Nicolaus lifted their price target on shares of Pure Storage from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Cross Research upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $21.16.

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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Insider Buying and Selling by Quarter for Pure Storage (NYSE:PSTG)

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