Pure Storage (NYSE:PSTG) Trading Down 0.2%

Pure Storage, Inc. (NYSE:PSTG)’s share price fell 0.2% on Monday . The company traded as low as $48.20 and last traded at $48.82. 338,708 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 3,881,061 shares. The stock had previously closed at $48.90.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of recent analyst reports. Evercore ISI dropped their price objective on Pure Storage from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. TD Cowen cut their price target on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. UBS Group decreased their price objective on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Finally, Barclays lifted their price target on shares of Pure Storage from $51.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.95.

Pure Storage Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The firm has a market cap of $16.03 billion, a price-to-earnings ratio of 178.39, a price-to-earnings-growth ratio of 7.49 and a beta of 1.11. The business’s 50-day moving average price is $56.62 and its two-hundred day moving average price is $57.15.

Insider Buying and Selling at Pure Storage

In related news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the transaction, the chief financial officer now directly owns 518,623 shares in the company, valued at $33,082,961.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO P. Kevan Krysler sold 14,296 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the sale, the chief financial officer now directly owns 518,623 shares in the company, valued at $33,082,961.17. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 9,881 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $59.32, for a total transaction of $586,140.92. Following the transaction, the executive now directly owns 115,601 shares in the company, valued at approximately $6,857,451.32. The disclosure for this sale can be found here. In the last three months, insiders sold 324,177 shares of company stock worth $18,863,083. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in shares of Pure Storage in the 1st quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new stake in shares of Pure Storage during the 1st quarter worth about $27,000. Massmutual Trust Co. FSB ADV increased its position in Pure Storage by 61.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC raised its holdings in Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares during the period. Finally, Principal Securities Inc. acquired a new position in Pure Storage during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.