Pure Storage, Inc. (NYSE:PSTG) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Pure Storage, Inc. (NYSE:PSTG - Get Free Report) have been given an average rating of "Moderate Buy" by the twenty-two ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $72.70.

Several equities research analysts have issued reports on the company. Northland Securities reaffirmed a "market perform" rating and set a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Raymond James dropped their target price on Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, August 29th. William Blair reiterated an "outperform" rating on shares of Pure Storage in a research report on Thursday, November 14th. Stifel Nicolaus lifted their price target on shares of Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Finally, TD Cowen upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In related news, CAO Mona Chu sold 20,647 shares of Pure Storage stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $51.50, for a total transaction of $1,063,320.50. Following the sale, the chief accounting officer now directly owns 75,992 shares in the company, valued at $3,913,588. The trade was a 21.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $51.01, for a total value of $5,101,000.00. Following the completion of the sale, the insider now directly owns 400,000 shares in the company, valued at approximately $20,404,000. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 337,853 shares of company stock worth $19,538,191. 6.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pure Storage

Hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC grew its position in Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company's stock valued at $28,000 after purchasing an additional 306 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the third quarter valued at approximately $31,000. Venturi Wealth Management LLC increased its position in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock valued at $38,000 after acquiring an additional 219 shares in the last quarter. nVerses Capital LLC purchased a new position in Pure Storage in the 3rd quarter worth approximately $50,000. Finally, Covestor Ltd lifted its position in Pure Storage by 175.3% in the 3rd quarter. Covestor Ltd now owns 991 shares of the technology company's stock valued at $50,000 after acquiring an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

Shares of Pure Storage stock traded up $0.65 on Thursday, hitting $65.40. 1,820,289 shares of the company traded hands, compared to its average volume of 3,659,861. Pure Storage has a 12-month low of $34.32 and a 12-month high of $70.41. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. The company has a market cap of $21.34 billion, a P/E ratio of 172.11, a P/E/G ratio of 7.69 and a beta of 1.13. The firm's 50-day simple moving average is $56.13 and its 200 day simple moving average is $57.00.

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.