Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons Sells 872 Shares

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 872 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $51.51, for a total value of $44,916.72. Following the completion of the transaction, the executive now directly owns 89,351 shares of the company’s stock, valued at approximately $4,602,470.01. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Dan Fitzsimons also recently made the following trade(s):

• On Monday, April 21st, Dan Fitzsimons sold 6,977 shares of Pure Storage stock. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07.

Pure Storage Stock Up 2.1%

Shares of NYSE:PSTG opened at $56.26 on Thursday. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The stock’s 50 day moving average is $46.18 and its 200-day moving average is $55.66. The firm has a market capitalization of $18.34 billion, a price-to-earnings ratio of 148.06, a PEG ratio of 5.12 and a beta of 1.05.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. StockNews.com lowered Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. UBS Group upped their price objective on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Bank of America cut their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler dropped their price target on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Pure Storage by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock worth $2,054,448,000 after acquiring an additional 615,931 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Pure Storage by 25.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock worth $401,793,000 after purchasing an additional 1,868,782 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pure Storage by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company’s stock valued at $413,982,000 after purchasing an additional 1,366,458 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Pure Storage by 3.0% during the fourth quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company’s stock valued at $363,751,000 after buying an additional 174,449 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Pure Storage by 18.8% during the fourth quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company’s stock valued at $255,677,000 after buying an additional 657,175 shares during the last quarter. Institutional investors and hedge funds own 83.42% 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.