Pure Storage (PSTG) Expected to Announce Earnings on Wednesday

Pure Storage (NYSE:PSTG) is expected to be posting its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Pure Storage to post earnings of $0.43 per share and revenue of $868.94 million for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Pure Storage Trading Down 3.9 %

NYSE:PSTG opened at $65.14 on Monday. The stock has a market capitalization of $21.25 billion, a PE ratio of 171.43, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The firm’s 50 day moving average is $66.23 and its 200 day moving average is $58.16. Pure Storage has a 12 month low of $40.32 and a 12 month high of $73.67.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Oppenheimer assumed coverage on shares of Pure Storage in a report on Wednesday, November 13th. They set an “outperform” rating and a $70.00 target price on the stock. Barclays boosted their target price on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Finally, TD Cowen boosted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and an average price target of $72.95.

Insider Buying and Selling at Pure Storage

In related news, CAO Mona Chu sold 8,311 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the transaction, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was 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 of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,178 shares of company stock worth $8,871,746 over the last three months. Company insiders own 6.00% 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.