Pure Storage Inc (PSTG) CFO Timothy Riitters Sells 5,210 Shares of Stock

Pure Storage Inc (NYSE:PSTG) CFO Timothy Riitters sold 5,210 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.92, for a total value of $103,783.20. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Timothy Riitters also recently made the following trade(s):

  • On Wednesday, December 19th, Timothy Riitters sold 30,000 shares of Pure Storage stock. The stock was sold at an average price of $16.61, for a total value of $498,300.00.

Pure Storage stock traded up $0.50 during mid-day trading on Friday, hitting $20.92. The stock had a trading volume of 2,492,410 shares, compared to its average volume of 3,406,150. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of -29.89 and a beta of 1.71. Pure Storage Inc has a 12 month low of $13.99 and a 12 month high of $29.14. The company has a quick ratio of 3.52, a current ratio of 3.64 and a debt-to-equity ratio of 0.63.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Thursday, February 28th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). Pure Storage had a negative net margin of 13.12% and a negative return on equity of 23.31%. As a group, sell-side analysts expect that Pure Storage Inc will post -0.54 EPS for the current year.

A number of institutional investors have recently bought and sold shares of PSTG. Oppenheimer Asset Management Inc. bought a new position in Pure Storage during the fourth quarter worth about $27,000. Sonora Investment Management LLC boosted its holdings in Pure Storage by 80.2% during the fourth quarter. Sonora Investment Management LLC now owns 1,910 shares of the technology company’s stock worth $31,000 after buying an additional 850 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Pure Storage during the fourth quarter worth about $42,000. DekaBank Deutsche Girozentrale boosted its holdings in Pure Storage by 169.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 4,090 shares of the technology company’s stock worth $110,000 after buying an additional 2,570 shares during the last quarter. Finally, Close Asset Management Ltd boosted its holdings in Pure Storage by 1,157.1% during the fourth quarter. Close Asset Management Ltd now owns 4,400 shares of the technology company’s stock worth $318,000 after buying an additional 4,050 shares during the last quarter. Institutional investors and hedge funds own 74.31% of the company’s stock.

PSTG has been the subject of several recent analyst reports. Oppenheimer set a $26.00 price objective on Pure Storage and gave the stock a “buy” rating in a research note on Monday, November 19th. Zacks Investment Research upgraded Pure Storage from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Thursday, November 22nd. Morgan Stanley increased their target price on Pure Storage from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 20th. Cowen initiated coverage on Pure Storage in a report on Tuesday, December 11th. They set a “market perform” rating and a $20.00 target price on the stock. Finally, Lake Street Capital decreased their target price on Pure Storage to $26.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.60.

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Pure Storage Company Profile

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

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