Pure Storage (NYSE:PSTG) Trading Up 2.5%

Pure Storage, Inc. (NYSE:PSTG) shares rose 2.5% during mid-day trading on Monday . The stock traded as high as $54.00 and last traded at $53.55. Approximately 662,817 shares were traded during trading, a decline of 85% from the average daily volume of 4,382,070 shares. The stock had previously closed at $52.24.

Analyst Ratings Changes

A number of research analysts have weighed in on PSTG shares. Barclays raised their price target on Pure Storage from $42.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Evercore ISI upped their price target on shares of Pure Storage from $41.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Pure Storage from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. TD Cowen upped their target price on shares of Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Wedbush reiterated an “outperform” rating and set a $50.00 price target on shares of Pure Storage in a report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.63.

Pure Storage Trading Up 3.3 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83. The company has a market capitalization of $17.53 billion, a price-to-earnings ratio of 315.02, a price-to-earnings-growth ratio of 6.78 and a beta of 1.15. The firm has a fifty day moving average price of $51.90 and a 200-day moving average price of $42.40.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.10. The business had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. Pure Storage’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Activity at Pure Storage

In related news, Director Scott Dietzen sold 147,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $53.49, for a total value of $7,863,030.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $5,349,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pure Storage news, Director Scott Dietzen sold 147,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $53.49, for a total value of $7,863,030.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $5,349,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO P. Kevan Krysler sold 15,286 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the sale, the chief financial officer now owns 507,824 shares in the company, valued at $26,813,107.20. The disclosure for this sale can be found here. Insiders have sold 286,581 shares of company stock valued at $15,266,704 over the last ninety days. 6.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pure Storage

Hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp bought a new position in shares of Pure Storage during the 1st quarter worth about $13,514,000. Avidian Wealth Solutions LLC bought a new stake in shares of Pure Storage during the first quarter valued at approximately $270,000. GSA Capital Partners LLP raised its position in shares of Pure Storage by 107.2% during the first quarter. GSA Capital Partners LLP now owns 20,171 shares of the technology company’s stock worth $1,049,000 after purchasing an additional 10,435 shares during the period. Mutual of America Capital Management LLC bought a new position in shares of Pure Storage in the 1st quarter worth $9,201,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Pure Storage in the 1st quarter valued at $27,000. 83.42% of the stock is currently 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.