Pure Storage, Inc. (PSTG) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Pure Storage, Inc. (NYSE:PSTG) from a sell rating to a hold rating in a research report released on Tuesday.

Several other analysts also recently issued reports on the company. ValuEngine downgraded Pure Storage from a hold rating to a sell rating in a report on Monday, September 11th. UBS AG reissued a buy rating and issued a $18.00 price target (up previously from $15.00) on shares of Pure Storage in a report on Monday, September 25th. Jefferies Group LLC reissued a hold rating and issued a $13.50 price target on shares of Pure Storage in a report on Friday, August 25th. Susquehanna Bancshares Inc reissued a positive rating and issued a $20.00 price target (up previously from $18.00) on shares of Pure Storage in a report on Thursday, October 5th. Finally, Morgan Stanley reissued an equal weight rating on shares of Pure Storage in a report on Saturday, September 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $16.23.

Shares of Pure Storage (NYSE:PSTG) traded up 0.463% during midday trading on Tuesday, reaching $16.285. The company’s stock had a trading volume of 148,035 shares. Pure Storage has a 1-year low of $9.12 and a 1-year high of $16.35. The company’s 50-day moving average price is $15.23 and its 200 day moving average price is $12.86. The firm’s market capitalization is $3.44 billion.

Pure Storage (NYSE:PSTG) last released its earnings results on Thursday, August 24th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. The company had revenue of $224.50 million for the quarter, compared to the consensus estimate of $217.97 million. During the same quarter last year, the business posted ($0.16) EPS. Pure Storage’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts forecast that Pure Storage will post ($0.22) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Pure Storage, Inc. (PSTG) Upgraded to Hold by BidaskClub” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/18/pure-storage-inc-pstg-upgraded-to-hold-by-bidaskclub.html.

In other Pure Storage news, President David Hatfield sold 1,853 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $15.55, for a total value of $28,814.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Riitters sold 55,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $14.82, for a total value of $815,100.00. Following the completion of the sale, the chief financial officer now directly owns 332,200 shares of the company’s stock, valued at approximately $4,923,204. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,028 shares of company stock valued at $2,628,735. Insiders own 41.47% of the company’s stock.

Several large investors have recently made changes to their positions in PSTG. BlackRock Inc. lifted its position in shares of Pure Storage by 18,167.3% in the first quarter. BlackRock Inc. now owns 13,649,176 shares of the technology company’s stock worth $134,172,000 after buying an additional 13,574,457 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Pure Storage by 3,403.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,738,819 shares of the technology company’s stock worth $17,093,000 after buying an additional 1,689,194 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pure Storage by 26.7% in the second quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock worth $90,427,000 after buying an additional 1,489,008 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Pure Storage by 91.7% in the second quarter. Renaissance Technologies LLC now owns 2,461,000 shares of the technology company’s stock w

Several other analysts also recently issued reports on the company. ValuEngine downgraded Pure Storage from a hold rating to a sell rating in a report on Monday, September 11th. UBS AG reissued a buy rating and issued a $18.00 price target (up previously from $15.00) on shares of Pure Storage in a report on Monday, September 25th. Jefferies Group LLC reissued a hold rating and issued a $13.50 price target on shares of Pure Storage in a report on Friday, August 25th. Susquehanna Bancshares Inc reissued a positive rating and issued a $20.00 price target (up previously from $18.00) on shares of Pure Storage in a report on Thursday, October 5th. Finally, Morgan Stanley reissued an equal weight rating on shares of Pure Storage in a report on Saturday, September 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $16.23.

Shares of Pure Storage (NYSE:PSTG) traded up 0.463% during midday trading on Tuesday, reaching $16.285. The company’s stock had a trading volume of 148,035 shares. Pure Storage has a 1-year low of $9.12 and a 1-year high of $16.35. The company’s 50-day moving average price is $15.23 and its 200 day moving average price is $12.86. The firm’s market capitalization is $3.44 billion.

Pure Storage (NYSE:PSTG) last released its earnings results on Thursday, August 24th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. The company had revenue of $224.50 million for the quarter, compared to the consensus estimate of $217.97 million. During the same quarter last year, the business posted ($0.16) EPS. Pure Storage’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, equities research analysts forecast that Pure Storage will post ($0.22) earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Pure Storage, Inc. (PSTG) Upgraded to Hold by BidaskClub” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/18/pure-storage-inc-pstg-upgraded-to-hold-by-bidaskclub.html.

In other Pure Storage news, President David Hatfield sold 1,853 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $15.55, for a total value of $28,814.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Riitters sold 55,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $14.82, for a total value of $815,100.00. Following the completion of the sale, the chief financial officer now directly owns 332,200 shares of the company’s stock, valued at approximately $4,923,204. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,028 shares of company stock valued at $2,628,735. Insiders own 41.47% of the company’s stock.

Several large investors have recently made changes to their positions in PSTG. BlackRock Inc. lifted its position in shares of Pure Storage by 18,167.3% in the first quarter. BlackRock Inc. now owns 13,649,176 shares of the technology company’s stock worth $134,172,000 after buying an additional 13,574,457 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Pure Storage by 3,403.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,738,819 shares of the technology company’s stock worth $17,093,000 after buying an additional 1,689,194 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pure Storage by 26.7% in the second quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock worth $90,427,000 after buying an additional 1,489,008 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Pure Storage by 91.7% in the second quarter. Renaissance Technologies LLC now owns 2,461,000 shares of the technology company’s stock worth $31,525,000 after buying an additional 1,177,000 shares during the last quarter. Finally, UBS Oconnor LLC acquired a new stake in shares of Pure Storage in the second quarter worth about $13,130,000. 35.30% of the stock is owned by institutional investors.

Pure Storage Company Profile

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

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