Pure Storage, Inc. (NYSE:PSTG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Pure Storage, Inc. (NYSE:PSTG) have been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $72.70.

A number of equities analysts have recently issued reports on PSTG shares. Evercore ISI raised their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Barclays raised their target price on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. TD Cowen upped 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. Wells Fargo & Company raised their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th.

Pure Storage Stock Down 1.7 %

Shares of Pure Storage stock opened at $61.43 on Thursday. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 0.07. Pure Storage has a twelve month low of $34.32 and a twelve month high of $70.41. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 161.66, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13. The company’s 50 day moving average is $56.89 and its 200 day moving average is $56.85.

Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This represents a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $51.01, for a total value of $5,101,000.00. Following the transaction, the insider now owns 400,000 shares of the company’s stock, valued at $20,404,000. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 337,853 shares of company stock valued at $19,538,191 in the last quarter. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pure Storage

Several hedge funds and other institutional investors have recently modified their holdings of PSTG. Franklin Resources Inc. grew its position in Pure Storage by 210.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company’s stock valued at $137,628,000 after acquiring an additional 1,730,123 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Pure Storage by 2.0% in the third quarter. Tidal Investments LLC now owns 69,711 shares of the technology company’s stock worth $3,502,000 after purchasing an additional 1,343 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Pure Storage in the 3rd quarter worth about $119,000. World Investment Advisors LLC bought a new stake in Pure Storage during the 3rd quarter valued at about $477,000. Finally, Sanctuary Advisors LLC boosted its position in Pure Storage by 15.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,709 shares of the technology company’s stock valued at $915,000 after buying an additional 2,317 shares during the period. 83.42% of the stock is currently 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.