A number of other equities research analysts also recently issued reports on PSTG. Morgan Stanley upgraded shares of Pure Storage from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $37.00 in a report on Monday, October 31st. Wedbush upped their price target on shares of Pure Storage from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, September 1st. Lake Street Capital upped their price target on shares of Pure Storage from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, September 1st. KeyCorp upped their price target on shares of Pure Storage from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, September 1st. Finally, Barclays upped their price target on shares of Pure Storage from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, September 1st. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.67.
Pure Storage Price Performance
Pure Storage stock opened at $30.61 on Friday. The firm has a 50 day simple moving average of $28.96 and a 200-day simple moving average of $27.82. Pure Storage has a 1-year low of $21.90 and a 1-year high of $36.71. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of -510.08, a price-to-earnings-growth ratio of 8.10 and a beta of 1.32.
In other news, Director Andrew William Fraser Brown sold 12,637 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $30.18, for a total value of $381,384.66. Following the transaction, the director now owns 55,448 shares in the company, valued at approximately $1,673,420.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Pure Storage
A number of large investors have recently made changes to their positions in the business. Toroso Investments LLC acquired a new position in shares of Pure Storage in the 3rd quarter valued at about $312,000. Glenmede Trust Co. NA increased its holdings in shares of Pure Storage by 233.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 97,371 shares of the technology company’s stock valued at $2,664,000 after purchasing an additional 68,168 shares during the period. Advisory Research Inc. increased its holdings in shares of Pure Storage by 2.1% in the 3rd quarter. Advisory Research Inc. now owns 22,277 shares of the technology company’s stock valued at $610,000 after purchasing an additional 452 shares during the period. CreativeOne Wealth LLC acquired a new position in Pure Storage in the third quarter worth approximately $501,000. Finally, Neuberger Berman Group LLC increased its holdings in Pure Storage by 7.2% in the third quarter. Neuberger Berman Group LLC now owns 116,287 shares of the technology company’s stock worth $3,188,000 after buying an additional 7,860 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.
About Pure Storage
Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.
- Get a free copy of the StockNews.com research report on Pure Storage (PSTG)
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Microsoft Shares: Is it Time to Back Up the Truck?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Three CBD Stocks to Dominate a Budding Industry
Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.