Pure Storage Sees Unusually High Options Volume (NYSE:PSTG)

Pure Storage Inc (NYSE:PSTG) was the recipient of some unusual options trading on Thursday. Investors bought 35,492 put options on the stock. This represents an increase of 19,728% compared to the typical daily volume of 179 put options.

In related news, CFO Timothy Riitters sold 11,749 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $16.74, for a total transaction of $196,678.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President David Hatfield sold 130,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was 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 a total of 877,362 shares of company stock worth $15,556,864 over the last quarter. Corporate insiders own 46.58% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Pure Storage by 11.0% during the fourth quarter. BlackRock Inc. now owns 16,162,210 shares of the technology company’s stock worth $256,332,000 after buying an additional 1,598,653 shares during the period. Vanguard Group Inc. lifted its holdings in Pure Storage by 26.7% during 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 period. FMR LLC lifted its holdings in Pure Storage by 10.9% during the second quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock worth $81,467,000 after buying an additional 622,600 shares during the period. Renaissance Technologies LLC lifted its holdings in Pure Storage by 53.1% during the fourth quarter. Renaissance Technologies LLC now owns 5,887,800 shares of the technology company’s stock worth $93,381,000 after buying an additional 2,042,985 shares during the period. Finally, Okumus Fund Management Ltd. lifted its holdings in Pure Storage by 4.1% during the third quarter. Okumus Fund Management Ltd. now owns 5,299,197 shares of the technology company’s stock worth $84,734,000 after buying an additional 206,943 shares during the period. Institutional investors own 39.56% of the company’s stock.

Pure Storage (PSTG) opened at $21.62 on Friday. The company has a market capitalization of $4,686.83, a P/E ratio of -21.62 and a beta of 1.64. Pure Storage has a 52 week low of $9.12 and a 52 week high of $22.22.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $277.70 million during the quarter, compared to analyst estimates of $272.07 million. Pure Storage had a negative return on equity of 44.96% and a negative net margin of 22.86%. Pure Storage’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) earnings per share. equities analysts predict that Pure Storage will post -0.93 earnings per share for the current fiscal year.

PSTG has been the subject of a number of research analyst reports. KeyCorp restated a “buy” rating on shares of Pure Storage in a research note on Wednesday, November 1st. Wells Fargo & Co initiated coverage on Pure Storage in a research report on Tuesday, November 14th. They set an “outperform” rating and a $22.00 price objective for the company. Vetr lowered Pure Storage from a “strong-buy” rating to a “buy” rating and set a $21.96 price objective for the company. in a research report on Monday, January 29th. Oppenheimer reissued a “buy” rating and issued a $21.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. Finally, Barclays raised Pure Storage from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $22.00 in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $19.18.

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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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