John Colgrove Sells 100,000 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the completion of the transaction, the insider now directly owns 500,000 shares of the company’s stock, valued at $24,970,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

John Colgrove also recently made the following trade(s):

• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $61.76, for a total transaction of $6,176,000.00.
• On Monday, August 5th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $52.39, for a total transaction of $5,239,000.00.
• On Thursday, July 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $59.50, for a total transaction of $5,950,000.00.

Pure Storage Trading Down 1.0 %

Shares of PSTG traded down $0.53 during trading hours on Monday, reaching $50.19. 3,141,184 shares of the company traded hands, compared to its average volume of 3,890,373. The company’s fifty day moving average price is $55.66 and its two-hundred day moving average price is $57.02. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 181.14, a price-to-earnings-growth ratio of 7.69 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. The business had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Equities research analysts predict that Pure Storage, Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSTG. Raymond James lowered their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. UBS Group decreased their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Susquehanna reiterated a “positive” rating and issued a $80.00 target price on shares of Pure Storage in a research report on Monday, August 26th. Bank of America lifted their target price on shares of Pure Storage from $57.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Finally, Needham & Company LLC decreased their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.95.

Institutional Investors Weigh In On Pure Storage

Several hedge funds have recently bought and sold shares of PSTG. Banque Cantonale Vaudoise purchased a new position in Pure Storage in the first quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new position in Pure Storage in the first quarter worth about $27,000. Massmutual Trust Co. FSB ADV raised its holdings in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during 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 worth $28,000 after buying an additional 306 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in Pure Storage in the fourth quarter worth about $31,000. Institutional investors 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.