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

Pure Storage, Inc. (NYSE:PSTG - Get Free Report)'s share price rose 0.1% during mid-day trading on Tuesday . The company traded as high as $52.65 and last traded at $52.33. Approximately 729,283 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,680,966 shares. The stock had previously closed at $52.30.

Analyst Ratings Changes

PSTG has been the subject of a number of research reports. Susquehanna upped their price objective on shares of Pure Storage from $45.00 to $65.00 and gave the company a "positive" rating in a research note on Thursday, April 11th. UBS Group increased their price target on shares of Pure Storage from $38.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. Evercore ISI increased their price target on shares of Pure Storage from $41.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Stifel Nicolaus increased their price target on shares of Pure Storage from $41.00 to $46.00 and gave the company a "hold" rating in a research report on Thursday, February 29th. Finally, Bank of America increased their price target on shares of Pure Storage from $42.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $50.53.

Pure Storage Stock Performance

The company has a market capitalization of $17.32 billion, a PE ratio of 313.61, a PEG ratio of 6.94 and a beta of 1.15. The business's 50-day moving average is $49.58 and its 200-day moving average is $40.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83.

Pure Storage (NYSE:PSTG - Get Free Report) last issued 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. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The company had revenue of $789.81 million during the quarter, compared to analysts' expectations of $784.31 million. During the same period last year, the company posted $0.27 EPS. Pure Storage's revenue was down 2.5% on a year-over-year basis. On average, research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Activity at Pure Storage

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Naples Money Management LLC bought a new stake in Pure Storage during the fourth quarter valued at approximately $25,000. Banque Cantonale Vaudoise bought a new stake in Pure Storage during the first quarter valued at approximately $25,000. Global Retirement Partners LLC bought a new stake in Pure Storage during the third quarter valued at approximately $28,000. LM Advisors LLC bought a new stake in Pure Storage during the fourth quarter valued at approximately $28,000. Finally, Principal Securities Inc. bought a new position in shares of Pure Storage in the fourth quarter worth approximately $31,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

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.