Pure Storage Inc (PSTG) CFO Sells $111,129.30 in Stock

Pure Storage Inc (NYSE:PSTG) CFO Timothy Riitters sold 5,210 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $21.33, for a total value of $111,129.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Timothy Riitters also recently made the following trade(s):

  • On Tuesday, March 26th, Timothy Riitters sold 5,210 shares of Pure Storage stock. The shares were sold at an average price of $20.89, for a total value of $108,836.90.
  • On Thursday, March 21st, Timothy Riitters sold 5,210 shares of Pure Storage stock. The shares were sold at an average price of $21.46, for a total value of $111,806.60.
  • On Tuesday, March 19th, Timothy Riitters sold 5,210 shares of Pure Storage stock. The shares were sold at an average price of $21.04, for a total value of $109,618.40.
  • On Thursday, March 14th, Timothy Riitters sold 5,210 shares of Pure Storage stock. The stock was sold at an average price of $20.46, for a total value of $106,596.60.
  • On Tuesday, March 12th, Timothy Riitters sold 5,210 shares of Pure Storage stock. The stock was sold at an average price of $19.92, for a total value of $103,783.20.

PSTG stock traded down $0.21 during trading on Friday, reaching $22.78. 3,802,225 shares of the company traded hands, compared to its average volume of 3,437,827. Pure Storage Inc has a 12 month low of $13.99 and a 12 month high of $29.14. The company has a market cap of $5.58 billion, a P/E ratio of -32.54 and a beta of 1.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.34 and a quick ratio of 3.25.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Thursday, February 28th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Pure Storage had a negative net margin of 13.12% and a negative return on equity of 22.64%. The company had revenue of $422.22 million for the quarter, compared to the consensus estimate of $443.27 million. On average, analysts anticipate that Pure Storage Inc will post -0.53 EPS for the current year.

A number of hedge funds have recently modified their holdings of PSTG. Oppenheimer Asset Management Inc. purchased a new stake in Pure Storage in the fourth quarter valued at about $27,000. Sonora Investment Management LLC raised its stake in Pure Storage by 80.2% in the fourth quarter. Sonora Investment Management LLC now owns 1,910 shares of the technology company’s stock valued at $31,000 after buying an additional 850 shares during the last quarter. Sageworth Trust Co purchased a new stake in Pure Storage in the first quarter valued at about $37,000. Meeder Asset Management Inc. purchased a new stake in Pure Storage in the fourth quarter valued at about $42,000. Finally, Penserra Capital Management LLC raised its stake in Pure Storage by 458.9% in the fourth quarter. Penserra Capital Management LLC now owns 5,008 shares of the technology company’s stock valued at $80,000 after buying an additional 4,112 shares during the last quarter. 73.77% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on PSTG. Credit Suisse Group began coverage on Pure Storage in a research note on Thursday, April 11th. They issued a “neutral” rating and a $23.00 target price on the stock. Cowen upgraded Pure Storage from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $30.00 in a research note on Monday, April 8th. ValuEngine upgraded Pure Storage from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Oppenheimer set a $26.00 target price on Pure Storage and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Zacks Investment Research lowered Pure Storage from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $26.10.

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About Pure Storage

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

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Insider Buying and Selling by Quarter for Pure Storage (NYSE:PSTG)

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