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Pure Storage Sees Unusually High Options Volume (NYSE:PSTG)

Defense World · Jan 21, 2023 02:21

Pure Storage, Inc. (NYSE:PSTG – Get Rating) saw unusually large options trading activity on Friday. Investors acquired 10,306 put options on the company. This is an increase of 119% compared to the average daily volume of 4,705 put options.

Pure Storage Stock Up 0.5 %

Pure Storage stock opened at $26.01 on Friday. The stock has a market capitalization of $7.87 billion, a PE ratio of 650.41, a price-to-earnings-growth ratio of 5.73 and a beta of 1.28. Pure Storage has a twelve month low of $21.90 and a twelve month high of $36.71. The company has a 50 day moving average of $28.33 and a 200-day moving average of $28.48.

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Pure Storage (NYSE:PSTG – Get Rating) last released its quarterly earnings results on Wednesday, November 30th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.09. The company had revenue of $676.05 million during the quarter, compared to analysts' expectations of $671.84 million. Pure Storage had a net margin of 0.51% and a return on equity of 13.11%. Equities analysts anticipate that Pure Storage will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Pure Storage from $40.00 to $44.00 in a research report on Thursday, December 1st. Wedbush lifted their price target on shares of Pure Storage to $36.00 in a research report on Friday, December 2nd. Susquehanna Bancshares lifted their price target on shares of Pure Storage from $40.00 to $44.00 in a research report on Thursday, December 1st. JPMorgan Chase & Co. decreased their price objective on shares of Pure Storage from $43.00 to $40.00 and set an "overweight" rating for the company in a report on Friday, November 25th. Finally, Morgan Stanley upgraded shares of Pure Storage from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $35.00 to $37.00 in a report on Monday, October 31st. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Pure Storage currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.94.

Insiders Place Their Bets

In other Pure Storage news, Director Gregory Tomb sold 10,643 shares of the business's stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $26.65, for a total value of $283,635.95. Following the completion of the transaction, the director now directly owns 30,544 shares of the company's stock, valued at $813,997.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO P. Kevan Krysler sold 27,679 shares of Pure Storage stock in a transaction that occurred on Thursday, December 29th. The shares were sold at an average price of $27.06, for a total transaction of $748,993.74. Following the completion of the sale, the chief financial officer now owns 480,831 shares in the company, valued at approximately $13,011,286.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory Tomb sold 10,643 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $26.65, for a total transaction of $283,635.95. Following the sale, the director now owns 30,544 shares of the company's stock, valued at approximately $813,997.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,170 shares of company stock valued at $1,605,075. Insiders own 6.80% of the company's stock.

Institutional Trading of Pure Storage

A number of institutional investors have recently made changes to their positions in the business. Ellevest Inc. lifted its position in shares of Pure Storage by 50.4% in the third quarter. Ellevest Inc. now owns 994 shares of the technology company's stock worth $27,000 after purchasing an additional 333 shares in the last quarter. LPL Financial LLC lifted its position in shares of Pure Storage by 0.3% in the second quarter. LPL Financial LLC now owns 120,438 shares of the technology company's stock worth $3,096,000 after purchasing an additional 357 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Pure Storage by 15.8% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the technology company's stock worth $76,000 after purchasing an additional 379 shares in the last quarter. Synovus Financial Corp raised its position in Pure Storage by 1.0% during the third quarter. Synovus Financial Corp now owns 44,077 shares of the technology company's stock worth $1,208,000 after acquiring an additional 434 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its position in Pure Storage by 3.9% during the second quarter. Beacon Pointe Advisors LLC now owns 11,922 shares of the technology company's stock worth $305,000 after acquiring an additional 445 shares in the last quarter. Institutional investors own 84.96% of the company's stock.

About Pure Storage

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Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.