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Pure Storage (NYSE:PSTG) Hits New 12-Month High at $68.87

Pure Storage logo with Computer and Technology background

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $68.87 and last traded at $68.18, with a volume of 474433 shares. The stock had previously closed at $68.30.

Analyst Upgrades and Downgrades

PSTG has been the subject of a number of analyst reports. TD Cowen upped their price target on Pure Storage from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, May 30th. Lake Street Capital boosted their price objective on Pure Storage from $48.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, May 30th. UBS Group boosted their price objective on Pure Storage from $38.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. StockNews.com upgraded Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Pure Storage from $50.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Pure Storage has a consensus rating of "Moderate Buy" and an average target price of $66.15.

Get Our Latest Stock Analysis on Pure Storage


Pure Storage Stock Down 0.9 %

The company has a market capitalization of $21.98 billion, a PE ratio of 241.64, a price-to-earnings-growth ratio of 6.74 and a beta of 1.06. The company has a quick ratio of 1.96, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $57.18 and a two-hundred day moving average of $47.58.

Insider Buying and Selling

In related news, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the transaction, the chief financial officer now directly owns 507,824 shares in the company, valued at $26,813,107.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Pure Storage news, CRO Dan Fitzsimons sold 29,283 shares of the company's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the transaction, the executive now directly owns 138,105 shares in the company, valued at $7,200,794.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO P. Kevan Krysler sold 15,286 shares of the company's stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the transaction, the chief financial officer now owns 507,824 shares in the company, valued at $26,813,107.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 291,399 shares of company stock worth $15,578,814. Company insiders own 6.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PSTG. Naples Money Management LLC acquired a new stake in shares of Pure Storage in the fourth quarter valued at $25,000. Banque Cantonale Vaudoise purchased a new position in shares of Pure Storage during the first quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Pure Storage during the first quarter worth about $27,000. Principal Securities Inc. purchased a new position in shares of Pure Storage during the fourth quarter worth about $31,000. Finally, Lindbrook Capital LLC grew its holdings in shares of Pure Storage by 295.6% during the first quarter. Lindbrook Capital LLC now owns 633 shares of the technology company's stock worth $33,000 after purchasing an additional 473 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

About Pure Storage

(Get Free Report)

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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