Shares of Pure Storage, Inc. (NYSE:PSTG – Get Rating) have been assigned an average rating of "Buy" from the twenty-one analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $38.94.
A number of 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 note on Thursday, December 1st. StockNews.com upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Tuesday, January 10th. JPMorgan Chase & Co. cut their target price on shares of Pure Storage from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Friday, November 25th. TheStreet upgraded shares of Pure Storage from a "c" rating to a "b" rating in a research report on Wednesday, November 30th. Finally, Credit Suisse Group cut their target price on shares of Pure Storage from $44.00 to $40.00 and set an "outperform" rating for the company in a research report on Thursday, December 1st.
Get Pure Storage alerts:Pure Storage Price Performance
Shares of NYSE PSTG opened at $27.61 on Thursday. Pure Storage has a 1 year low of $21.90 and a 1 year high of $36.71. The stock has a market cap of $8.35 billion, a P/E ratio of 690.42, a price-to-earnings-growth ratio of 5.86 and a beta of 1.28. The firm has a 50-day moving average of $28.11 and a 200 day moving average of $28.53.
Pure Storage (NYSE:PSTG – Get Rating) last issued its quarterly earnings results on Wednesday, November 30th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.09. Pure Storage had a net margin of 0.51% and a return on equity of 13.11%. The company had revenue of $676.05 million during the quarter, compared to analysts' expectations of $671.84 million. Research analysts expect that Pure Storage will post 0.22 earnings per share for the current fiscal year.Insider Buying and Selling at Pure Storage
In other news, Director Andrew William Fraser Brown sold 9,930 shares of the company's stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $27.28, for a total value of $270,890.40. Following the transaction, the director now directly owns 45,518 shares in the company, valued at $1,241,731.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Andrew William Fraser Brown sold 9,930 shares of the company's stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $27.28, for a total value of $270,890.40. Following the transaction, the director now directly owns 45,518 shares in the company, valued at $1,241,731.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory Tomb sold 10,643 shares of the company's stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $26.65, for a total transaction of $283,635.95. Following the completion of the transaction, the director now owns 30,544 shares in the company, valued at $813,997.60. The disclosure for this sale can be found here. Insiders have sold 59,170 shares of company stock worth $1,605,075 over the last quarter. Insiders own 6.80% of the company's stock.
Institutional Trading of Pure Storage
A number of hedge funds have recently added to or reduced their stakes in PSTG. FMR LLC lifted its position in shares of Pure Storage by 9.8% during the second quarter. FMR LLC now owns 36,316,619 shares of the technology company's stock valued at $933,700,000 after buying an additional 3,242,506 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pure Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 27,369,119 shares of the technology company's stock valued at $966,403,000 after buying an additional 203,732 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Pure Storage by 2.0% during the first quarter. Wellington Management Group LLP now owns 3,209,361 shares of the technology company's stock valued at $113,322,000 after buying an additional 62,110 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Pure Storage by 92.1% during the third quarter. Marshall Wace LLP now owns 2,909,720 shares of the technology company's stock valued at $79,638,000 after buying an additional 1,394,660 shares during the last quarter. Finally, Scout Investments Inc. lifted its position in shares of Pure Storage by 74.5% during the third quarter. Scout Investments Inc. now owns 1,971,701 shares of the technology company's stock valued at $53,965,000 after buying an additional 841,569 shares during the last quarter. 84.96% of the stock is owned by hedge funds and other institutional investors.
About Pure Storage
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Pure Storage, Inc engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disks with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, CA.
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