Pure Storage Inc (NYSE:PSTG) major shareholder James N. White sold 95,123 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $16.62, for a total transaction of $1,580,944.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Pure Storage Inc (NYSE PSTG) opened at $19.78 on Friday. Pure Storage Inc has a one year low of $9.12 and a one year high of $21.23. The firm has a market cap of $4,287.95, a PE ratio of -19.78 and a beta of 1.64.
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. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The business had revenue of $277.70 million during the quarter, compared to analysts’ expectations of $272.07 million. During the same quarter last year, the company earned ($0.10) earnings per share. The firm’s revenue was up 41.0% on a year-over-year basis. equities analysts expect that Pure Storage Inc will post -0.93 earnings per share for the current fiscal year.
Several research firms have commented on PSTG. ValuEngine raised shares of Pure Storage from a “sell” rating to a “hold” rating in a research report on Friday. Vetr raised shares of Pure Storage from a “buy” rating to a “strong-buy” rating and set a $23.17 target price on the stock in a research report on Thursday. Robert W. Baird reissued a “hold” rating and set a $20.00 target price on shares of Pure Storage in a research report on Wednesday, November 29th. Oppenheimer reissued a “buy” rating and set a $21.00 target price on shares of Pure Storage in a research report on Wednesday, November 29th. Finally, Barclays reissued a “hold” rating and set a $19.00 target price on shares of Pure Storage in a research report on Wednesday, November 29th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $19.08.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Pure Storage by 6.3% in the second quarter. BlackRock Inc. now owns 14,513,166 shares of the technology company’s stock valued at $185,913,000 after buying an additional 863,990 shares during the period. Vanguard Group Inc. lifted its stake 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 buying an additional 1,489,008 shares during the period. FMR LLC lifted its stake in shares of Pure Storage by 10.9% in the second quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock valued at $81,467,000 after buying an additional 622,600 shares during the period. Okumus Fund Management Ltd. lifted its stake in Pure Storage by 4.1% during the third quarter. Okumus Fund Management Ltd. now owns 5,299,197 shares of the technology company’s stock worth $84,734,000 after purchasing an additional 206,943 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Pure Storage by 5.0% during the second quarter. Franklin Resources Inc. now owns 3,097,439 shares of the technology company’s stock worth $39,679,000 after purchasing an additional 146,411 shares during the period. Institutional investors and hedge funds own 37.50% of the company’s stock.
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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.
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