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

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, October 21st. The shares were sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the completion of the sale, the insider now owns 300,000 shares of the company’s stock, valued at $17,196,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, October 4th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $51.01, for a total transaction of $5,101,000.00.
• On Thursday, September 19th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00.
• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $61.76, for a total value 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 value of $5,239,000.00.

Pure Storage Price Performance

PSTG opened at $53.45 on Friday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The firm has a 50-day moving average of $52.86 and a 200 day moving average of $56.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. The firm has a market cap of $17.52 billion, a P/E ratio of 133.63, a PEG ratio of 8.31 and a beta of 1.11.

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

Institutional Trading of Pure Storage

Several hedge funds have recently made changes to their positions in PSTG. State of Alaska Department of Revenue increased its holdings in Pure Storage by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 35,670 shares of the technology company’s stock worth $1,792,000 after acquiring an additional 2,435 shares during the last quarter. Forsta AP Fonden boosted its position in Pure Storage by 16.2% during the third quarter. Forsta AP Fonden now owns 67,500 shares of the technology company’s stock worth $3,391,000 after purchasing an additional 9,400 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Pure Storage by 363.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,553 shares of the technology company’s stock valued at $275,000 after purchasing an additional 4,356 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in shares of Pure Storage by 5.0% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 6,426 shares of the technology company’s stock valued at $323,000 after buying an additional 308 shares in the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in Pure Storage in the 3rd quarter worth approximately $365,000. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of recent research reports. Stifel Nicolaus cut their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Guggenheim raised their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC decreased their target price on shares of Pure Storage from $80.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. UBS Group dropped their price target 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. Finally, Northland Securities reissued a “market perform” rating and set a $59.00 price objective (down from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.05.

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.