Dan Fitzsimons Sells 8,895 Shares of Pure Storage, Inc. (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the transaction, the executive now directly owns 94,446 shares in the company, valued at $4,785,578.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Dan Fitzsimons also recently made the following trade(s):

• On Friday, July 19th, Dan Fitzsimons sold 9,881 shares of Pure Storage stock. The shares were sold at an average price of $59.32, for a total value of $586,140.92.

Pure Storage Stock Performance

PSTG opened at $50.43 on Thursday. The firm’s fifty day simple moving average is $55.06 and its two-hundred day simple moving average is $56.93. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41. The company has a market cap of $16.53 billion, a price-to-earnings ratio of 180.11, a PEG ratio of 7.87 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07.

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

Institutional Trading of Pure Storage

A number of institutional investors have recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in Pure Storage during the 4th quarter worth $31,000. Dimensional Fund Advisors LP lifted its stake in shares of Pure Storage by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,168,335 shares of the technology company’s stock worth $41,666,000 after buying an additional 28,086 shares in the last quarter. Wells Fargo & Company MN boosted its position in Pure Storage by 251.9% during the fourth quarter. Wells Fargo & Company MN now owns 635,842 shares of the technology company’s stock worth $22,674,000 after acquiring an additional 455,177 shares during the last quarter. Corient Private Wealth LLC grew its stake in Pure Storage by 105.5% during the 4th quarter. Corient Private Wealth LLC now owns 13,215 shares of the technology company’s stock valued at $471,000 after acquiring an additional 6,783 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Pure Storage by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 54,073 shares of the technology company’s stock valued at $1,928,000 after acquiring an additional 242 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley downgraded Pure Storage from an “overweight” rating to an “equal weight” rating and set a $60.00 target price for the company. in a report on Wednesday, June 12th. JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Susquehanna reissued a “positive” rating and set a $80.00 target price on shares of Pure Storage in a report on Monday, August 26th. Lake Street Capital lowered their price target on shares of Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Wells Fargo & Company increased their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.95.

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.