Pure Storage, Inc. (NYSE:PSTG) CAO Sells $516,611.76 in Stock

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. This represents a 10.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Mona Chu also recently made the following trade(s):

• On Monday, October 7th, Mona Chu sold 20,647 shares of Pure Storage stock. The stock was sold at an average price of $51.50, for a total transaction of $1,063,320.50.
• On Wednesday, September 25th, Mona Chu sold 25,000 shares of Pure Storage stock. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00.

Pure Storage Stock Performance

Shares of NYSE:PSTG traded up $2.91 during trading on Monday, reaching $66.62. The company had a trading volume of 3,378,230 shares, compared to its average volume of 3,670,065. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. Pure Storage, Inc. has a fifty-two week low of $34.32 and a fifty-two week high of $70.41. The firm has a market capitalization of $21.83 billion, a price-to-earnings ratio of 175.61, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13. The stock’s fifty day moving average price is $54.29 and its 200 day moving average price is $56.84.

Hedge Funds Weigh In On Pure Storage

Several hedge funds have recently bought and sold shares of PSTG. Sycomore Asset Management acquired a new position in Pure Storage during the second quarter worth approximately $2,259,000. Citigroup Inc. increased its holdings in Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock worth $7,235,000 after purchasing an additional 14,659 shares during the last quarter. TT International Asset Management LTD raised its holdings in Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after acquiring an additional 67,285 shares in the last quarter. FMR LLC grew its stake in Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock valued at $9,570,000 after acquiring an additional 92,762 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. 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 research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Lake Street Capital boosted their price objective on shares of Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Raymond James cut their price objective on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.10.

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.