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 company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, October 21st, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00.
• On Friday, October 4th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $51.01, for a total value of $5,101,000.00.
• On Thursday, September 19th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $49.94, for a total value of $4,994,000.00.

Pure Storage Stock Up 3.8 %

Shares of NYSE PSTG opened at $64.92 on Friday. The stock has a market capitalization of $21.27 billion, a PE ratio of 170.85, a price-to-earnings-growth ratio of 8.87 and a beta of 1.13. The company has a current ratio of 1.77, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a 12-month low of $31.90 and a 12-month high of $70.41. The stock’s fifty day simple moving average is $53.04 and its two-hundred day simple moving average is $56.83.

Analyst Ratings Changes

A number of research firms have weighed in on PSTG. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $76.00 in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC upped their target price on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James reduced their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Finally, TD Cowen boosted their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

Institutional Investors Weigh In On Pure Storage

A number of institutional investors have recently added to or reduced their stakes in PSTG. Larson Financial Group LLC lifted its position in shares of Pure Storage by 242.9% during 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 during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Pure Storage during the 3rd quarter worth approximately $31,000. FSC Wealth Advisors LLC purchased a new stake in Pure Storage during the second quarter valued at approximately $33,000. ORG Partners LLC acquired a new stake in Pure Storage in the second quarter valued at approximately $35,000. Finally, Venturi Wealth Management LLC grew its holdings in Pure Storage by 40.9% in the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock worth $38,000 after purchasing an additional 219 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Company Profile

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.