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Monday, June 26, 2017

Insider Selling: Pure Storage, Inc. (PSTG) Director Sells 412,514 Shares of Stock

#PureStorage, Inc. (NYSE:PSTG) Director Michelangelo Volpi sold 412,514 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $13.02, for a total value of $5,370,932.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Michelangelo Volpi also recently made the following trade(s):

On Tuesday, June 20th, Michelangelo Volpi sold 390,957 shares of Pure Storage stock. The stock was sold at an average price of $13.33, for a total value of $5,211,456.81.On Friday, June 16th, Michelangelo Volpi sold 1,425,000 shares of Pure Storage stock. The stock was sold at an average price of $13.15, for a total value of $18,738,750.00.On Friday, June 9th, Michelangelo Volpi sold 19,086 shares of Pure Storage stock. The stock was sold at an average price of $13.00, for a total value of $248,118.00.

Pure Storage, Inc. (NYSE PSTG) traded up 3.42% during mid-day trading on Thursday, reaching $13.30. The company had a trading volume of 2,168,994 shares. The firm’s 50-day moving average price is $12.02 and its 200-day moving average price is $11.34. The stock’s market cap is $2.78 billion. Pure Storage, Inc. has a 12 month low of $9.12 and a 12 month high of $15.14.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, May 24th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.08. Pure Storage had a negative net margin of 31.62% and a negative return on equity of 44.04%. The firm had revenue of $182.60 million for the quarter, compared to the consensus estimate of $176.13 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. Equities research analysts forecast that Pure Storage, Inc. will post ($0.27) EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Pure Storage during the fourth quarter valued at about $1,697,000. Thrivent Financial for Lutherans increased its position in Pure Storage by 11.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 242,990 shares of the technology company’s stock valued at $2,748,000 after buying an additional 24,510 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Pure Storage by 88.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,170 shares of the technology company’s stock valued at $138,000 after buying an additional 5,720 shares during the period. Alyeska Investment Group L.P. increased its position in Pure Storage by 497.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,548,691 shares of the technology company’s stock valued at $17,516,000 after buying an additional 1,289,407 shares during the period. Finally, Two Sigma Investments LP increased its position in Pure Storage by 102.1% in the fourth quarter. Two Sigma Investments LP now owns 533,112 shares of the technology company’s stock valued at $6,029,000 after buying an additional 269,312 shares during the period. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Several research firms have recently weighed in on PSTG. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $12.00 price objective (down from $13.00) on shares of Pure Storage in a research note on Friday, March 3rd. Vetr raised Pure Storage from a “buy” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, May 30th. Robert W. Baird reaffirmed a “hold” rating on shares of Pure Storage in a research report on Thursday, May 25th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Thursday, March 2nd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Pure Storage in a research report on Thursday, May 25th. Eleven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $15.29.

Pure Storage Company Profile

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

https://www.thecerbatgem.com/2017/06/22/insider-selling-pure-storage-inc-pstg-director-sells-412514-shares-of-stock.html

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