Insider Selling: Pure Storage Inc (PSTG) Director Sells $3,444,000.00 in Stock

Pure Storage Inc (NYSE:PSTG) Director Scott Dietzen sold 200,000 shares of Pure Storage stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $17.22, for a total transaction of $3,444,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Pure Storage Inc (PSTG) opened at $17.25 on Friday. Pure Storage Inc has a fifty-two week low of $9.12 and a fifty-two week high of $19.27.

Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The business had revenue of $277.70 million for the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.86%. The firm’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) earnings per share. analysts predict that Pure Storage Inc will post -0.93 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC increased its holdings in Pure Storage by 64.7% during the second quarter. Voya Investment Management LLC now owns 43,164 shares of the technology company’s stock worth $553,000 after buying an additional 16,955 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Pure Storage by 26.7% in the second quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock valued at $90,427,000 after purchasing an additional 1,489,008 shares during the last quarter. BARING ASSET MANAGEMENT Ltd acquired a new position in shares of Pure Storage in the third quarter valued at $252,000. Legal & General Group Plc increased its holdings in shares of Pure Storage by 42.7% in the second quarter. Legal & General Group Plc now owns 23,623 shares of the technology company’s stock valued at $303,000 after purchasing an additional 7,068 shares during the last quarter. Finally, Marcus Capital LLC increased its holdings in shares of Pure Storage by 57.6% in the second quarter. Marcus Capital LLC now owns 231,500 shares of the technology company’s stock valued at $2,966,000 after purchasing an additional 84,600 shares during the last quarter. Institutional investors and hedge funds own 38.46% of the company’s stock.

A number of research analysts have weighed in on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $13.50 price target on shares of Pure Storage in a research note on Friday, August 25th. William Blair reaffirmed an “ourperform” rating on shares of Pure Storage in a research note on Friday, August 25th. Lake Street Capital set a $21.00 price target on shares of Pure Storage and gave the company a “buy” rating in a research note on Wednesday, November 29th. They noted that the move was a valuation call. KeyCorp reaffirmed a “buy” rating and issued a $24.00 price target on shares of Pure Storage in a research note on Wednesday, November 29th. Finally, Robert W. Baird set a $14.00 price target on shares of Pure Storage and gave the company a “hold” rating in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Pure Storage presently has an average rating of “Buy” and a consensus price target of $18.55.

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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.

Insider Buying and Selling by Quarter for Pure Storage (NYSE:PSTG)

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