Pure Storage (NYSE:PSTG) Stock Price Up 0.1%

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) rose 0.1% on Monday . The stock traded as high as $54.29 and last traded at $53.50. Approximately 568,929 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 4,700,941 shares. The stock had previously closed at $53.43.

Analyst Upgrades and Downgrades

PSTG has been the topic of several recent analyst reports. Susquehanna increased their price target on Pure Storage from $45.00 to $65.00 and gave the stock a "positive" rating in a report on Thursday. KeyCorp increased their price target on Pure Storage from $51.00 to $55.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Barclays increased their price objective on Pure Storage from $42.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. Needham & Company LLC reissued a "buy" rating and issued a $66.00 price objective on shares of Pure Storage in a research note on Thursday. Finally, Stifel Nicolaus increased their price objective on Pure Storage from $41.00 to $46.00 and gave the stock a "hold" rating in a research note on Thursday, February 29th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $50.53.

Pure Storage Stock Down 2.1 %

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 business has a 50-day moving average price of $49.14 and a 200-day moving average price of $40.67. The firm has a market capitalization of $16.99 billion, a PE ratio of 307.67, a price-to-earnings-growth ratio of 6.94 and a beta of 1.15.

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

Insider Activity at Pure Storage

In related news, insider Ajay Singh sold 37,588 shares of the company's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the transaction, the insider now directly owns 380,834 shares in the company, valued at $20,389,852.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ajay Singh sold 37,588 shares of the company's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $53.54, for a total value of $2,012,461.52. Following the transaction, the insider now directly owns 380,834 shares in the company, valued at $20,389,852.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne Taylor sold 36,860 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $53.76, for a total value of $1,981,593.60. Following the completion of the transaction, the director now owns 18,883 shares in the company, valued at $1,015,150.08. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Pure Storage

Hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in Pure Storage by 1.4% in the third quarter. FMR LLC now owns 46,793,394 shares of the technology company's stock valued at $1,666,781,000 after buying an additional 663,465 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Pure Storage by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 31,294,297 shares of the technology company's stock worth $1,115,955,000 after buying an additional 567,358 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Pure Storage by 24.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,091,077 shares of the technology company's stock worth $359,464,000 after buying an additional 2,807,489 shares during the last quarter. Morgan Stanley grew its holdings in shares of Pure Storage by 3.4% during the third quarter. Morgan Stanley now owns 4,296,843 shares of the technology company's stock worth $153,054,000 after buying an additional 140,541 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its position in Pure Storage by 33.8% in the third quarter. Polar Capital Holdings Plc now owns 4,068,672 shares of the technology company's stock valued at $144,926,000 after purchasing an additional 1,028,104 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

About Pure Storage

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.