Pure Storage Inc (NYSE:PSTG) major shareholder James N. White sold 95,123 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $16.62, for a total value of $1,580,944.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Pure Storage Inc (NYSE PSTG) traded down $0.58 during midday trading on Friday, reaching $16.47. The company had a trading volume of 3,370,000 shares, compared to its average volume of 1,980,000. The stock has a market capitalization of $3,570.00 and a P/E ratio of -15.99. Pure Storage Inc has a 12 month low of $9.12 and a 12 month high of $19.27.
Pure Storage (NYSE:PSTG) last released its earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The company had revenue of $277.70 million for the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative return on equity of 44.96% and a negative net margin of 22.86%. Pure Storage’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. research analysts anticipate that Pure Storage Inc will post -0.93 EPS for the current year.
A number of research firms have recently issued reports on PSTG. BidaskClub upgraded Pure Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Lake Street Capital set a $21.00 price target on Pure Storage and gave the stock a “buy” rating in a research note on Wednesday, November 29th. They noted that the move was a valuation call. Robert W. Baird restated a “hold” rating and issued a $20.00 price target on shares of Pure Storage in a research note on Wednesday, November 29th. Barclays restated a “hold” rating and issued a $19.00 price target on shares of Pure Storage in a research note on Wednesday, November 29th. Finally, UBS Group restated a “buy” rating and issued a $22.00 price target (up from $18.00) on shares of Pure Storage in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Pure Storage has an average rating of “Buy” and a consensus target price of $18.55.
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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