Free Trial

Pure Storage (NYSE:PSTG) Trading Down 0.8%

Pure Storage logo with Computer and Technology background

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) shares traded down 0.8% on Thursday . The company traded as low as $67.01 and last traded at $67.78. 670,340 shares traded hands during trading, a decline of 84% from the average session volume of 4,278,435 shares. The stock had previously closed at $68.35.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Pure Storage from $46.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 30th. Bank of America boosted their target price on shares of Pure Storage from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday, May 30th. Citigroup boosted their target price on shares of Pure Storage from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, May 30th. Northland Capmk lowered shares of Pure Storage from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Pure Storage from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.42.

Read Our Latest Stock Analysis on Pure Storage

Pure Storage Stock Performance

The firm's 50 day simple moving average is $58.30 and its 200 day simple moving average is $48.48. The company has a current ratio of 2.00, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The firm has a market cap of $21.42 billion, a PE ratio of 235.50, a PEG ratio of 6.89 and a beta of 1.06.


Insider Activity

In other news, Director Roxanne Taylor sold 36,860 shares of the company's 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 sale, the director now directly owns 18,883 shares in the company, valued at approximately $1,015,150.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ajay Singh sold 37,588 shares of the company's stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the sale, the insider now directly owns 380,834 shares in the company, valued at approximately $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 the 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 sale, the director now directly owns 18,883 shares in the company, valued at $1,015,150.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 291,399 shares of company stock worth $15,578,814. 6.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Pure Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSTG. Naples Money Management LLC bought a new position in Pure Storage in the 4th quarter worth about $25,000. Banque Cantonale Vaudoise bought a new position in Pure Storage in the 1st quarter worth about $25,000. Fidelis Capital Partners LLC bought a new position in Pure Storage in the 1st quarter worth about $27,000. Principal Securities Inc. bought a new position in Pure Storage in the 4th quarter worth about $31,000. Finally, Lindbrook Capital LLC grew its stake in 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 acquiring an additional 473 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

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.

See Also

Should you invest $1,000 in Pure Storage right now?

Before you consider Pure Storage, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pure Storage wasn't on the list.

While Pure Storage currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

3 Strong Buy Stocks for a Summer Surge

3 Strong Buy Stocks for a Summer Surge

In this video, we break down the factors driving the market's impressive performance and why the S&P could rise another 15% by year's end.

Related Videos

7 Cheap Dividend Stocks Offering Value and Price Upside

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines