John Colgrove Sells 100,000 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00. Following the completion of the sale, the insider now owns 500,000 shares in the company, valued at $24,970,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

John Colgrove also recently made the following trade(s):

• On Tuesday, August 20th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $61.76, for a total value of $6,176,000.00.
• On Monday, August 5th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $52.39, for a total transaction of $5,239,000.00.
• On Thursday, July 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $59.50, for a total transaction of $5,950,000.00.

Pure Storage Stock Down 0.8 %

Pure Storage stock opened at $49.81 on Wednesday. The company’s 50-day moving average price is $55.06 and its two-hundred day moving average price is $56.93. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $16.20 billion, a P/E ratio of 177.89, a P/E/G ratio of 7.69 and a beta of 1.11. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. As a group, analysts expect that Pure Storage, Inc. will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PSTG shares. Stifel Nicolaus lowered their price target on shares of Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. Raymond James lowered their target price on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Northland Capmk cut Pure Storage from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 30th. Northland Securities reaffirmed a “market perform” rating and set a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. Finally, TD Cowen cut their price objective on Pure Storage from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $66.95.

Institutional Investors Weigh In On Pure Storage

Institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in Pure Storage during the first quarter worth about $25,000. Fidelis Capital Partners LLC acquired a new position in shares of Pure Storage during the 1st quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Pure Storage by 61.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after purchasing an additional 161 shares during the period. Larson Financial Group LLC raised its position in shares of Pure Storage by 242.9% in the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after buying an additional 306 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Pure Storage in the fourth quarter valued at approximately $31,000. Institutional investors own 83.42% of the company’s stock.

About Pure Storage

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.