Pure Storage Inc (NYSE:PSTG) – Equities research analysts at Oppenheimer upped their FY2018 earnings estimates for Pure Storage in a report issued on Wednesday. Oppenheimer analyst I. Kidron now expects that the technology company will post earnings per share of ($0.94) for the year, up from their previous estimate of ($1.03). Oppenheimer currently has a “Buy” rating and a $21.00 target price on the stock. Oppenheimer also issued estimates for Pure Storage’s Q4 2018 earnings at ($0.16) EPS, Q1 2019 earnings at ($0.35) EPS, Q3 2019 earnings at ($0.20) EPS, Q4 2019 earnings at ($0.12) EPS and FY2019 earnings at ($0.96) EPS.
Other analysts have also issued reports about the company. Jefferies Group reissued a “hold” rating and issued a $13.50 price objective on shares of Pure Storage in a report on Friday, August 25th. William Blair reissued an “ourperform” rating on shares of Pure Storage in a report on Friday, August 25th. Lake Street Capital set a $21.00 price objective on Pure Storage and gave the company a “buy” rating in a report on Wednesday, November 29th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and issued a $24.00 price objective on shares of Pure Storage in a report on Wednesday, November 29th. Finally, Robert W. Baird set a $14.00 price objective on Pure Storage and gave the company a “hold” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Pure Storage has an average rating of “Buy” and a consensus target price of $18.55.
Shares of Pure Storage (PSTG) traded down $0.06 during trading on Monday, reaching $16.98. The company had a trading volume of 1,458,146 shares, compared to its average volume of 1,771,460. Pure Storage has a 1 year low of $9.12 and a 1 year high of $19.27.
Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $277.70 million for the quarter, compared to analysts’ expectations of $272.07 million. Pure Storage had a negative return on equity of 44.86% and a negative net margin of 22.86%. The company’s revenue was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.10) earnings per share.
Several large investors have recently bought and sold shares of PSTG. Ameritas Investment Partners Inc. lifted its position in Pure Storage by 38.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,284 shares during the period. BNP Paribas Arbitrage SA lifted its position in Pure Storage by 641.5% in the second quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after purchasing an additional 10,078 shares during the period. Amalgamated Bank acquired a new stake in Pure Storage in the second quarter worth approximately $151,000. Principal Financial Group Inc. acquired a new stake in Pure Storage in the second quarter worth approximately $166,000. Finally, Great West Life Assurance Co. Can lifted its position in Pure Storage by 151.3% in the third quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock worth $180,000 after purchasing an additional 6,810 shares during the period. 38.46% of the stock is owned by institutional investors.
In other news, CFO Timothy Riitters sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $14.56, for a total transaction of $72,800.00. Following the completion of the transaction, the chief financial officer now directly owns 282,200 shares of the company’s stock, valued at $4,108,832. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President David Hatfield sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $18.05, for a total value of $2,346,500.00. The disclosure for this sale can be found here. Insiders have sold 317,028 shares of company stock valued at $5,304,635 over the last ninety days. Corporate insiders own 41.47% of the company’s stock.
About Pure Storage
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.
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