Pure Storage, Inc. (NYSE:PSTG) CFO P. Kevan Krysler Sells 15,286 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) CFO P. Kevan Krysler sold 15,286 shares of Pure Storage stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the transaction, the chief financial officer now directly owns 507,824 shares of the company’s stock, valued at $26,813,107.20. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Pure Storage Stock Down 4.6 %

Shares of Pure Storage stock opened at $49.46 on Friday. Pure Storage, Inc. has a one year low of $22.14 and a one year high of $58.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.83 and a quick ratio of 1.80. The stock’s 50-day moving average is $50.02 and its 200 day moving average is $41.17. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of 290.96, a PEG ratio of 6.73 and a beta of 1.15.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The company had revenue of $789.81 million for the quarter, compared to analyst estimates of $784.31 million. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PSTG shares. Needham & Company LLC reissued a “buy” rating and set a $66.00 price target on shares of Pure Storage in a report on Thursday, April 11th. Morgan Stanley boosted their price target on Pure Storage from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Barclays boosted their price target on Pure Storage from $42.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Susquehanna boosted their price target on Pure Storage from $45.00 to $65.00 and gave the stock a “positive” rating in a report on Thursday, April 11th. Finally, Bank of America boosted their price target on Pure Storage from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in Pure Storage by 19.7% in the third quarter. Sei Investments Co. now owns 464,256 shares of the technology company’s stock worth $16,537,000 after acquiring an additional 76,421 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Pure Storage by 11.4% in the third quarter. William Blair Investment Management LLC now owns 687,600 shares of the technology company’s stock worth $24,492,000 after purchasing an additional 70,620 shares during the last quarter. Weil Company Inc. purchased a new stake in shares of Pure Storage in the third quarter worth approximately $433,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Pure Storage in the fourth quarter worth approximately $514,000. Finally, Raymond James & Associates raised its stake in shares of Pure Storage by 11.1% in the fourth quarter. Raymond James & Associates now owns 306,862 shares of the technology company’s stock worth $10,943,000 after purchasing an additional 30,642 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, 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.