Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons Sells 8,895 Shares

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Pure Storage Price Performance

Shares of PSTG opened at $65.40 on Friday. The firm has a 50-day simple moving average of $56.31 and a two-hundred day simple moving average of $57.05. The stock has a market cap of $21.34 billion, a PE ratio of 172.11, a P/E/G ratio of 7.69 and a beta of 1.13. Pure Storage, Inc. has a 1-year low of $34.32 and a 1-year high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSTG. JPMorgan Chase & Co. raised their target price on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and increased their target price for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Barclays boosted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus increased their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Institutional Trading of Pure Storage

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in shares of Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock worth $137,628,000 after buying an additional 1,730,123 shares during the period. Tidal Investments LLC lifted its stake in Pure Storage by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 69,711 shares of the technology company’s stock worth $3,502,000 after acquiring an additional 1,343 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Pure Storage during the 3rd quarter valued at about $119,000. World Investment Advisors LLC acquired a new position in Pure Storage in the 3rd quarter valued at about $477,000. Finally, Sanctuary Advisors LLC increased its stake in Pure Storage by 15.1% during the third quarter. Sanctuary Advisors LLC now owns 17,709 shares of the technology company’s stock worth $915,000 after purchasing an additional 2,317 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

About Pure Storage

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.