Pure Storage (NYSE:PSTG) Trading Down 0.7%

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) shares fell 0.7% during trading on Monday . The company traded as low as $52.42 and last traded at $52.59. 480,211 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,483,510 shares. The stock had previously closed at $52.95.

Analyst Ratings Changes

Several analysts have issued reports on PSTG shares. JPMorgan Chase & Co. upped their price objective on Pure Storage from $45.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. UBS Group upped their price objective on Pure Storage from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. Citigroup started coverage on Pure Storage in a research note on Friday, March 15th. They set a "buy" rating and a $65.00 price objective on the stock. Susquehanna upped their price objective on Pure Storage from $45.00 to $65.00 and gave the company a "positive" rating in a research note on Thursday, April 11th. Finally, Evercore ISI upped their price objective on Pure Storage from $41.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.63.

Pure Storage Trading Down 1.0 %

The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $17.04 billion, a price-to-earnings ratio of 308.49, a PEG ratio of 6.88 and a beta of 1.15. The firm has a 50-day moving average of $51.05 and a 200 day moving average of $41.95.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The firm had revenue of $789.81 million for the quarter, compared to analysts' expectations of $784.31 million. During the same period last year, the firm earned $0.27 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, Director Roxanne Taylor sold 36,860 shares of the stock in a transaction on 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 approximately $1,015,150.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Pure Storage news, Director Roxanne Taylor sold 36,860 shares of the stock in a transaction on 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 approximately $1,015,150.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total value of $807,100.80. Following the transaction, the chief financial officer now directly owns 507,824 shares of the company's stock, valued at $26,813,107.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 286,581 shares of company stock valued at $15,266,704. 6.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pure Storage

Several large investors have recently modified their holdings of the stock. Securian Asset Management Inc. bought a new stake in shares of Pure Storage during the 1st quarter worth $1,270,000. Yousif Capital Management LLC bought a new stake in shares of Pure Storage during the 1st quarter worth $7,046,000. Lindbrook Capital LLC boosted its stake in shares of Pure Storage by 295.6% during the 1st quarter. Lindbrook Capital LLC now owns 633 shares of the technology company's stock worth $33,000 after acquiring an additional 473 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Pure Storage in the first quarter valued at $12,675,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Pure Storage in the first quarter valued at $426,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Company Profile

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.