Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu Sells 20,647 Shares

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 20,647 shares of Pure Storage stock in a transaction on Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the sale, the chief accounting officer now directly owns 75,992 shares of the company’s stock, valued at $3,913,588. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Mona Chu also recently made the following trade(s):

• On Wednesday, September 25th, Mona Chu sold 25,000 shares of Pure Storage stock. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00.

Pure Storage Stock Performance

NYSE PSTG traded up $0.73 on Wednesday, reaching $53.24. The stock had a trading volume of 1,557,242 shares, compared to its average volume of 3,803,920. The business’s 50-day moving average price is $53.33 and its 200 day moving average price is $56.86. Pure Storage, Inc. has a 12-month low of $31.00 and a 12-month high of $70.41. The stock has a market cap of $17.32 billion, a P/E ratio of 187.54, a price-to-earnings-growth ratio of 7.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, equities analysts expect that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Needham & Company LLC cut their price target on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and set a $59.00 target price (down from $68.00) on shares of Pure Storage in a research note on Thursday, August 29th. Evercore ISI decreased their price target on shares of Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Piper Sandler cut their price objective on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Susquehanna reiterated a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.95.

Institutional Investors Weigh In On Pure Storage

Several hedge funds have recently modified their holdings of the stock. Tobam lifted its position in Pure Storage by 1,402.6% in the third quarter. Tobam now owns 17,370 shares of the technology company’s stock valued at $873,000 after purchasing an additional 16,214 shares during the period. UMB Bank n.a. lifted its holdings in shares of Pure Storage by 26.0% in the 3rd quarter. UMB Bank n.a. now owns 1,485 shares of the technology company’s stock valued at $75,000 after buying an additional 306 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Pure Storage in the third quarter valued at approximately $70,000. Park Place Capital Corp grew its holdings in Pure Storage by 403.1% during the third quarter. Park Place Capital Corp now owns 1,469 shares of the technology company’s stock worth $74,000 after acquiring an additional 1,177 shares during the period. Finally, MBM Wealth Consultants LLC lifted its holdings in Pure Storage by 9.2% in the third quarter. MBM Wealth Consultants LLC now owns 10,695 shares of the technology company’s stock valued at $537,000 after acquiring an additional 899 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

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.