Pure Storage Inc (NYSE:PSTG) Director Scott Dietzen sold 200,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $17.22, for a total value of $3,444,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Pure Storage Inc (NYSE PSTG) opened at $17.25 on Friday. Pure Storage Inc has a 52 week low of $9.12 and a 52 week high of $19.27.
Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Pure Storage had a negative return on equity of 44.86% and a negative net margin of 22.86%. The company had revenue of $277.70 million during the quarter, compared to analyst estimates of $272.07 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The firm’s revenue was up 41.0% on a year-over-year basis. sell-side analysts anticipate that Pure Storage Inc will post -0.93 EPS for the current fiscal year.
PSTG has been the subject of a number of analyst reports. BidaskClub lowered Pure Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Susquehanna Bancshares reissued a “positive” rating and set a $20.00 price objective (up previously from $18.00) on shares of Pure Storage in a research note on Thursday, October 5th. BMO Capital Markets reissued an “outperform” rating and set a $16.00 price objective (up previously from $15.00) on shares of Pure Storage in a research note on Friday, August 25th. ValuEngine lowered Pure Storage from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Finally, JMP Securities increased their price objective on Pure Storage from $16.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, October 13th. One equities research 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.55.
A number of hedge funds have recently made changes to their positions in the stock. AXA lifted its stake in Pure Storage by 9.4% in the third quarter. AXA now owns 346,700 shares of the technology company’s stock worth $5,544,000 after acquiring an additional 29,700 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Pure Storage in the third quarter worth $700,000. Cubist Systematic Strategies LLC lifted its stake in Pure Storage by 2,440.5% in the third quarter. Cubist Systematic Strategies LLC now owns 43,188 shares of the technology company’s stock worth $691,000 after acquiring an additional 41,488 shares during the period. Granahan Investment Management Inc. MA lifted its stake in Pure Storage by 14.3% in the third quarter. Granahan Investment Management Inc. MA now owns 197,173 shares of the technology company’s stock worth $3,153,000 after acquiring an additional 24,663 shares during the period. Finally, Maple Rock Capital Partners Inc. bought a new position in Pure Storage in the third quarter worth $12,792,000. 38.46% of the stock is owned by institutional investors.
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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.
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