Unusual Volume of Shares Pure Storage, Inc.'s (PSTG)

Galtero Lara
Abril 17, 2018

Vetr raised shares of Pure Storage from a "buy" rating to a "strong-buy" rating and set a $23.17 target price for the company in a research note on Thursday, February 1st. The technology company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.07 by $0.06.

Several research analysts have commented on the stock.

Currently, Pure Storage Inc (PSTG) has a 14-day Commodity Channel Index (CCI) of -52.13. Barclays increased their target price on Pure Storage from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, March 2nd. BMO Capital Markets boosted their price objective on shares of Pure Storage from $22.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday, March 2nd. Robert W. Baird reiterated a "neutral" rating and set a $22.00 target price (up from $20.00) on shares of Pure Storage in a research report on Friday, March 2nd. Analyst recommendation for this stock stands at 1.9. The company presently has an average rating of "Buy" and a consensus price target of $21.60.

PSTG stock opened at $18.78 on Thursday.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Thursday, March 1st. Covering brokerage analysts are estimating company growth for next year to be 198.54%. The company earned $197 million during the quarter, compared to analysts' expectations of $192.36 million. Pure Storage had a negative return on equity of 37.84% and a negative net margin of 17.36%. The business's revenue was up 48.4% compared to the same quarter previous year.

However out of 16 analysts 6 suggest Pure Storage Inc (NYSE:PSTG) a Strong Buy, 9 suggested Buy, 6 Hold and 1 Sell, while 0 analysts recommend the stock a Strong Sell.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Pure Storage during the fourth quarter valued at approximately $162,000. It is also used in ranking the parallel size of stock exchanges, is a measure of the total of the market capitalizations of all companies listed on each stock exchange. Can boosted its position in Pure Storage by 151.3% during the 3rd quarter. The company exchanged hands with 2385619 shares contrast to its average daily volume of 4.46M shares. Pure Storage Inc (NYSE:PSTG) has a current PEG of 0.

The stock as of last trading session moved 91.44% up from its 52 week low and was -16.90% behind its 52 week high. Ardsley Advisory Partners bought a new position in Pure Storage in the 4th quarter worth approximately $159,000. Fortaleza Asset Management Inc. bought a new position in Pure Storage in the 4th quarter worth approximately $154,000. Following the transaction, the chief financial officer now owns 26,769 shares of the company's stock, valued at approximately $319,621.86.

In other news, insider John Colgrove sold 8,480 shares of the company's stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $20.07, for a total transaction of $170,193.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Dietzen sold 125,000 shares of Pure Storage stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $11.94, for a total transaction of $59,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 842,243 shares of company stock worth $16,503,228.

ILLEGAL ACTIVITY NOTICE: "Pure Storage (PSTG) Shares Sold by LPL Financial LLC" was published by Week Herald and is the property of of Week Herald.

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

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