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

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

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

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

Pure Storage Stock Performance

PSTG stock traded up $0.73 during midday trading on Thursday, hitting $55.66. 2,160,340 shares of the stock were exchanged, compared to its average volume of 2,933,303. The stock's 50-day moving average price is $51.35 and its 200-day moving average price is $55.93. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of 150.44, a PEG ratio of 5.24 and a beta of 1.05. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67.

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

Wall Street Analysts Forecast Growth

PSTG has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of Pure Storage from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Piper Sandler reaffirmed an "overweight" rating and set a $66.00 price target (up from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a research report on Friday, June 20th. UBS Group raised their target price on Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their target price on Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.95.

Hedge Funds Weigh In On Pure Storage

Several hedge funds have recently bought and sold shares of PSTG. McIlrath & Eck LLC purchased a new stake in Pure Storage during the 4th quarter worth about $25,000. MassMutual Private Wealth & Trust FSB grew its holdings in Pure Storage by 55.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after purchasing an additional 233 shares during the period. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC raised its holdings in Pure Storage by 5,233.3% in the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after buying an additional 785 shares during the period. Finally, TruNorth Capital Management LLC acquired a new position in Pure Storage during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

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.