Pure Storage Inc (PSTG) Insider John Colgrove Sells 2,167 Shares

Pure Storage Inc (NYSE:PSTG) insider John Colgrove sold 2,167 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $16.50, for a total transaction of $35,755.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Pure Storage Inc (NYSE:PSTG) traded up $0.20 on Thursday, reaching $16.78. 344,891 shares of the company traded hands, compared to its average volume of 2,120,000. The company has a market cap of $3,640.00 and a P/E ratio of -16.29. Pure Storage Inc has a 52 week low of $9.12 and a 52 week high of $19.27.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The firm had revenue of $277.70 million during the quarter, compared to the consensus estimate of $272.07 million. During the same period last year, the firm earned ($0.10) EPS. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. equities research analysts predict that Pure Storage Inc will post -0.93 EPS for the current year.

Large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its holdings in Pure Storage by 38.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock valued at $105,000 after purchasing an additional 2,284 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Pure Storage by 151.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock worth $180,000 after acquiring an additional 6,810 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Pure Storage by 641.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after acquiring an additional 10,078 shares during the last quarter. Invictus RG bought a new stake in shares of Pure Storage during the 3rd quarter worth $187,000. Finally, Amalgamated Bank bought a new stake in shares of Pure Storage during the 2nd quarter worth $151,000. 37.50% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on PSTG shares. UBS Group reaffirmed a “buy” rating and issued a $22.00 price target (up previously from $18.00) on shares of Pure Storage in a research report on Wednesday, November 29th. KeyCorp reaffirmed a “buy” rating on shares of Pure Storage in a research report on Wednesday, November 1st. BTIG Research raised their price target on shares of Pure Storage from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Lake Street Capital set a $21.00 price target on shares of Pure Storage and gave the company a “buy” rating in a research report on Wednesday, November 29th. They noted that the move was a valuation call. Finally, Oppenheimer reiterated a “buy” rating and issued a $21.00 price objective on shares of Pure Storage in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $18.55.

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About Pure Storage

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

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