Andrew William Fraser Brown Sells 20,564 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) Director Andrew William Fraser Brown sold 20,564 shares of Pure Storage stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $52.31, for a total value of $1,075,702.84. Following the completion of the sale, the director now directly owns 24,400 shares in the company, valued at approximately $1,276,364. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Pure Storage Stock Down 1.9 %

Shares of PSTG stock traded down $0.99 on Wednesday, hitting $52.32. The stock had a trading volume of 2,989,547 shares, compared to its average volume of 4,698,772. Pure Storage, Inc. has a one year low of $22.14 and a one year high of $58.46. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08. The company has a market cap of $17.00 billion, a PE ratio of 313.61, a P/E/G ratio of 6.79 and a beta of 1.15. The business has a 50 day moving average price of $49.58 and a 200 day moving average price of $40.92.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.10. The company had revenue of $789.81 million during the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. Pure Storage's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Pure Storage from $43.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. KeyCorp boosted their target price on shares of Pure Storage from $51.00 to $55.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Susquehanna increased their price target on shares of Pure Storage from $45.00 to $65.00 and gave the company a "positive" rating in a report on Thursday, April 11th. Bank of America boosted their price objective on Pure Storage from $42.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. Finally, Stifel Nicolaus raised their price objective on Pure Storage from $41.00 to $46.00 and gave the company a "hold" rating in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. grew its holdings in Pure Storage by 19.7% in the third quarter. Sei Investments Co. now owns 464,256 shares of the technology company's stock worth $16,537,000 after purchasing an additional 76,421 shares during the last quarter. William Blair Investment Management LLC grew its stake in Pure Storage by 11.4% during the 3rd quarter. William Blair Investment Management LLC now owns 687,600 shares of the technology company's stock worth $24,492,000 after buying an additional 70,620 shares during the last quarter. Weil Company Inc. purchased a new position in Pure Storage during the 3rd quarter worth $433,000. Raymond James & Associates increased its position in Pure Storage by 11.1% during the 4th quarter. Raymond James & Associates now owns 306,862 shares of the technology company's stock valued at $10,943,000 after buying an additional 30,642 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Pure Storage by 12.0% in the third quarter. American Century Companies Inc. now owns 1,184,198 shares of the technology company's stock valued at $42,181,000 after buying an additional 126,795 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.