Pure Storage, Inc. (NYSE:PSTG) Insider Ajay Singh Sells 19,972 Shares

Pure Storage, Inc. (NYSE:PSTG) insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Pure Storage Trading Up 2.8 %

NYSE:PSTG opened at $64.23 on Friday. The firm has a market capitalization of $20.95 billion, a P/E ratio of 169.03, a PEG ratio of 7.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. Pure Storage, Inc. has a one year low of $35.35 and a one year high of $70.41. The company’s 50-day simple moving average is $57.27 and its 200 day simple moving average is $56.86.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. TD Cowen increased their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Lake Street Capital boosted their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC increased their target price on shares of Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Northland Securities restated a “market perform” rating and set a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.70.

Institutional Trading of Pure Storage

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sycomore Asset Management bought a new stake in Pure Storage in the second quarter worth $2,259,000. Citigroup Inc. raised its position in shares of Pure Storage by 11.3% in the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 14,659 shares during the last quarter. TT International Asset Management LTD boosted its stake in Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock worth $3,671,000 after purchasing an additional 67,285 shares in the last quarter. FMR LLC grew its position in Pure Storage by 0.8% during the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after purchasing an additional 92,762 shares in the last quarter. Hedge funds and other 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.