Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons Sells 6,000 Shares

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) CRO Dan Fitzsimons sold 6,000 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $51.65, for a total transaction of $309,900.00. Following the completion of the transaction, the executive now owns 75,965 shares of the company's stock, valued at approximately $3,923,592.25. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Dan Fitzsimons also recently made the following trade(s):

• On Monday, May 12th, Dan Fitzsimons sold 872 shares of Pure Storage stock. The shares were sold at an average price of $51.51, for a total value of $44,916.72.
• On Monday, April 21st, Dan Fitzsimons sold 6,977 shares of Pure Storage stock. The stock was sold at an average price of $40.91, for a total value of $285,429.07.

Pure Storage Trading Up 3.3%

Shares of NYSE PSTG traded up $1.68 during midday trading on Monday, reaching $53.26. The company's stock had a trading volume of 2,677,712 shares, compared to its average volume of 2,943,805. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The company has a market cap of $17.41 billion, a price-to-earnings ratio of 95.52, a price-to-earnings-growth ratio of 4.92 and a beta of 1.05. The company has a 50 day moving average price of $50.58 and a 200 day moving average price of $56.03.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. The company had revenue of $778.49 million for the quarter, compared to analysts' expectations of $770.03 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. Research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on PSTG shares. UBS Group lifted their target price on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a research note on Thursday, February 27th. Wedbush reissued an "outperform" rating and set a $70.00 price target on shares of Pure Storage in a report on Thursday, May 29th. Evercore ISI upped their price objective on shares of Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Citigroup increased their target price on shares of Pure Storage from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Barclays dropped their price target on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $69.95.

Institutional Investors Weigh In On Pure Storage

Institutional investors and hedge funds have recently modified their holdings of the stock. McIlrath & Eck LLC purchased a new position in shares of Pure Storage in the fourth quarter worth approximately $25,000. Crowley Wealth Management Inc. acquired a new position in Pure Storage in the 4th quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB grew its position in Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after purchasing an additional 233 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Pure Storage by 157.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock worth $44,000 after purchasing an additional 436 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Pure Storage by 180.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 740 shares of the technology company's stock valued at $46,000 after purchasing an additional 476 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

About Pure Storage

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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