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 firm’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 completion of the transaction, the insider now directly owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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 Price Performance

PSTG traded up $2.36 during trading on Friday, reaching $64.92. 4,787,641 shares of the company were exchanged, compared to its average volume of 3,685,171. 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 company has a market cap of $21.27 billion, a price-to-earnings ratio of 170.85, a P/E/G ratio of 7.27 and a beta of 1.13. Pure Storage, Inc. has a 12-month low of $31.90 and a 12-month high of $70.41. The company’s 50-day moving average is $53.04 and its two-hundred day moving average is $56.86.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Lake Street Capital upped their target price on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen lifted their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.10.

Institutional Investors Weigh In On Pure Storage

Institutional investors and hedge funds have recently modified their holdings of the company. Nvwm LLC increased its holdings in Pure Storage by 23.3% during the 3rd quarter. Nvwm LLC now owns 1,027 shares of the technology company’s stock worth $52,000 after acquiring an additional 194 shares during the period. Harbour Investments Inc. increased its holdings in shares of Pure Storage by 3.0% in the second quarter. Harbour Investments Inc. now owns 6,912 shares of the technology company’s stock worth $444,000 after purchasing an additional 202 shares during the period. Larson Financial Group LLC raised its position in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after buying an additional 219 shares during the period. Finally, Bank Pictet & Cie Europe AG grew its position in Pure Storage by 3.2% during the second quarter. Bank Pictet & Cie Europe AG now owns 7,202 shares of the technology company’s stock worth $462,000 after buying an additional 223 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

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.