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

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) CRO Dan Fitzsimons sold 8,895 shares of the company's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the transaction, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Pure Storage Stock Performance

Shares of NYSE PSTG traded up $0.65 during midday trading on Thursday, hitting $65.40. 1,820,289 shares of the company's stock were exchanged, compared to its average volume of 3,659,861. Pure Storage, Inc. has a 12 month low of $34.32 and a 12 month high of $70.41. The company's 50 day moving average price is $56.13 and its 200 day moving average price is $57.00. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $21.34 billion, a PE ratio of 172.11, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PSTG shares. Piper Sandler raised Pure Storage from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Oppenheimer assumed coverage on shares of Pure Storage in a report on Wednesday, November 13th. They issued an "outperform" rating and a $70.00 price objective on the stock. Guggenheim lifted their target price on shares of Pure Storage from $72.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Northland Securities reiterated a "market perform" rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, William Blair restated an "outperform" rating on shares of Pure Storage in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.70.

Hedge Funds Weigh In On Pure Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake 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 purchasing an additional 1,730,123 shares during the period. Tidal Investments LLC grew its position in shares of 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 purchasing an additional 1,343 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Pure Storage during the 3rd quarter worth $119,000. World Investment Advisors LLC bought a new position in shares of Pure Storage in the third quarter worth $477,000. Finally, Sanctuary Advisors LLC raised its stake in Pure Storage by 15.1% in the third quarter. Sanctuary Advisors LLC now owns 17,709 shares of the technology company's stock valued at $915,000 after purchasing an additional 2,317 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

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.