Timothy Riitters Sells 11,749 Shares of Pure Storage Inc (PSTG) Stock

Pure Storage Inc (NYSE:PSTG) CFO Timothy Riitters sold 11,749 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $16.74, for a total value of $196,678.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Timothy Riitters also recently made the following trade(s):

  • On Friday, October 6th, Timothy Riitters sold 15,175 shares of Pure Storage stock. The stock was sold at an average price of $15.55, for a total value of $235,971.25.
  • On Monday, October 2nd, Timothy Riitters sold 25,000 shares of Pure Storage stock. The stock was sold at an average price of $15.85, for a total value of $396,250.00.

Pure Storage Inc (NYSE:PSTG) opened at $16.72 on Friday. Pure Storage Inc has a 1 year low of $9.12 and a 1 year high of $19.27.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The business had revenue of $277.70 million during the quarter, compared to analyst estimates of $272.07 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The company’s revenue was up 41.0% on a year-over-year basis. research analysts forecast that Pure Storage Inc will post -0.93 earnings per share for the current year.

A number of equities research analysts have weighed in on the company. BidaskClub downgraded Pure Storage from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Susquehanna Bancshares reiterated a “positive” rating and issued a $20.00 price target (up from $18.00) on shares of Pure Storage in a research note on Thursday, October 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 price target (up from $15.00) on shares of Pure Storage in a research note on Friday, August 25th. ValuEngine cut Pure Storage from a “hold” rating to a “sell” rating in a research note on Monday, September 11th. Finally, JMP Securities raised their target price on Pure Storage from $16.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $18.55.

Several hedge funds and other institutional investors have recently made changes to their positions in PSTG. Ameritas Investment Partners Inc. boosted its stake in shares of Pure Storage by 38.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after purchasing an additional 2,284 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Pure Storage by 641.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after purchasing an additional 10,078 shares during the period. Amalgamated Bank purchased a new stake in Pure Storage in the 2nd quarter valued at about $151,000. Principal Financial Group Inc. purchased a new stake in Pure Storage in the 2nd quarter valued at about $166,000. Finally, Great West Life Assurance Co. Can boosted its position in Pure Storage by 151.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock valued at $180,000 after buying an additional 6,810 shares during the period. 38.46% of the stock is owned by institutional investors and hedge funds.

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About Pure Storage

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.

Insider Buying and Selling by Quarter for Pure Storage (NYSE:PSTG)

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