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Pure Storage (NYSE:PSTG) Trading Up 2.6%

Pure Storage logo with Computer and Technology background

Pure Storage, Inc. (NYSE:PSTG - Get Free Report)'s share price traded up 2.6% during trading on Tuesday . The company traded as high as $69.94 and last traded at $69.55. 822,122 shares were traded during trading, a decline of 81% from the average session volume of 4,275,643 shares. The stock had previously closed at $67.81.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PSTG shares. Citigroup increased their target price on shares of Pure Storage from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, May 30th. Stifel Nicolaus raised their target price on shares of Pure Storage from $46.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 30th. Lake Street Capital increased their price target on Pure Storage from $48.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. raised their price objective on Pure Storage from $50.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, May 30th. Finally, Northland Capmk cut Pure Storage from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 30th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.42.

Get Our Latest Stock Report on PSTG

Pure Storage Price Performance

The business has a 50-day moving average price of $57.78 and a 200 day moving average price of $48.22. The stock has a market cap of $22.21 billion, a PE ratio of 244.11, a PEG ratio of 6.82 and a beta of 1.06. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07.


Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 29,283 shares of the firm's stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total value of $1,526,815.62. Following the completion of the transaction, the executive now directly owns 138,105 shares of the company's stock, valued at approximately $7,200,794.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Pure Storage news, CRO Dan Fitzsimons sold 29,283 shares of the firm's stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total value of $1,526,815.62. Following the completion of the transaction, the executive now owns 138,105 shares in the company, valued at approximately $7,200,794.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the insider now directly owns 380,834 shares of the company's stock, valued at approximately $20,389,852.36. The disclosure for this sale can be found here. Insiders sold 291,399 shares of company stock worth $15,578,814 over the last quarter. 6.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pure Storage

Several large investors have recently added to or reduced their stakes in PSTG. Naples Money Management LLC purchased a new position in Pure Storage in the 4th quarter worth approximately $25,000. Banque Cantonale Vaudoise purchased a new stake in Pure Storage during the first quarter valued at about $25,000. Fidelis Capital Partners LLC bought a new stake in Pure Storage during the first quarter worth about $27,000. Principal Securities Inc. bought a new stake in Pure Storage during the fourth quarter worth about $31,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Pure Storage by 295.6% in the 1st quarter. Lindbrook Capital LLC now owns 633 shares of the technology company's stock worth $33,000 after purchasing an additional 473 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

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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