By otakuyassine3@gmail.com 
Pure Storage, Inc. (NYSE:PSTG – Get Free Report) CAO Mona Chu sold 8,311 shares of the company’s 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 completion of the transaction, the chief accounting officer now directly owns 67,681 shares in the company, valued at approximately $4,207,050.96. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Mona Chu also recently made the following trade(s):
- On Monday, October 7th, Mona Chu sold 20,647 shares of Pure Storage stock. The shares were 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 stock was sold at an average price of $50.32, for a total transaction of $1,258,000.00.
Pure Storage Stock Performance
NYSE:PSTG opened at $66.62 on Tuesday. Pure Storage, Inc. has a 12 month low of $34.32 and a 12 month high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.77 and a quick ratio of 1.74. The firm has a market capitalization of $21.83 billion, a PE ratio of 175.30, a price-to-earnings-growth ratio of 7.69 and a beta of 1.13. The business’s fifty day moving average price is $54.60 and its 200 day moving average price is $56.87.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Sycomore Asset Management acquired a new position in Pure Storage in the second quarter valued at approximately $2,259,000. Citigroup Inc. lifted its position in shares of 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 buying an additional 14,659 shares during the last quarter. TT International Asset Management LTD boosted its holdings in shares of Pure Storage by 1,160.1% in the 3rd quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company’s stock valued at $3,671,000 after buying an additional 67,285 shares in the last quarter. FMR LLC grew its position in shares of Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after buying an additional 368,643 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company’s stock worth $9,570,000 after acquiring an additional 92,762 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer initiated coverage on Pure Storage in a research note on Wednesday, November 13th. They set an “outperform” rating and a $70.00 price target on the stock. Barclays lifted their price objective on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Susquehanna reissued a “positive” rating and set a $80.00 target price on shares of Pure Storage in a research note on Monday, August 26th. Finally, Guggenheim lifted their target price on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.10.
Check Out Our Latest Analysis on Pure Storage
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.
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