Pure Storage Inc (NYSE:PSTG) major shareholder Stefan A. Dyckerhoff sold 25,407 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $17.05, for a total value of $433,189.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Pure Storage Inc (PSTG) traded down $0.30 during midday trading on Monday, hitting $16.95. The company had a trading volume of 1,849,206 shares, compared to its average volume of 1,770,879. Pure Storage Inc has a 52-week low of $9.12 and a 52-week high of $19.27.
Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $277.70 million for the quarter, compared to analyst estimates of $272.07 million. During the same quarter last year, the company posted ($0.10) earnings per share. The business’s revenue was up 41.0% on a year-over-year basis. analysts expect that Pure Storage Inc will post -0.93 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSTG. Voya Investment Management LLC boosted its holdings in Pure Storage by 64.7% in the 2nd quarter. Voya Investment Management LLC now owns 43,164 shares of the technology company’s stock valued at $553,000 after purchasing an additional 16,955 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Pure Storage by 26.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock valued at $90,427,000 after purchasing an additional 1,489,008 shares in the last quarter. BARING ASSET MANAGEMENT Ltd purchased a new stake in Pure Storage in the 3rd quarter valued at approximately $252,000. Legal & General Group Plc boosted its holdings in Pure Storage by 42.7% in the 2nd quarter. Legal & General Group Plc now owns 23,623 shares of the technology company’s stock valued at $303,000 after purchasing an additional 7,068 shares in the last quarter. Finally, Marcus Capital LLC boosted its holdings in Pure Storage by 57.6% in the 2nd quarter. Marcus Capital LLC now owns 231,500 shares of the technology company’s stock valued at $2,966,000 after purchasing an additional 84,600 shares in the last quarter. 38.46% of the stock is currently owned by hedge funds and other institutional investors.
PSTG has been the subject of a number of recent research reports. Jefferies Group reiterated a “hold” rating and issued a $13.50 target price on shares of Pure Storage in a report on Friday, August 25th. William Blair reiterated an “ourperform” rating on shares of Pure Storage in a report on Friday, August 25th. Lake Street Capital set a $21.00 target price 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 reiterated a “buy” rating and issued a $24.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. Finally, Robert W. Baird set a $14.00 target price 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.55.
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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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