Economy

Pure Storage (NYSE:PSTG) Under Analyst Spotlight

JPMorgan Chase & Co. owned about 0.08% of Pure Storage worth $964,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 35.30% of the company's stock. Ameritas Investment Partners Inc. lifted its holdings in shares of Pure Storage by 38.8% in the 2nd quarter. Wells Fargo & Company MN now owns 57,389 shares of the technology company's stock valued at $564,000 after purchasing an additional 150 shares during the period. Bangor Savings Bank purchased a new position in shares of Pure Storage during the second quarter valued at about $1,026,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Pure Storage by 33.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company's stock valued at $149,000 after acquiring an additional 10,078 shares during the last quarter.

Institutional investors have recently modified their holdings of the stock.

On Monday, October 2nd, Timothy Riitters sold 25,000 shares of Pure Storage stock. The shares were sold at an average price of $14.56, for a total transaction of $72,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

In other news, President David Hatfield sold 70,000 shares of Pure Storage stock in a transaction dated Wednesday, October 18th. Chicago-based equity research firm Zacks Investment Research has assigned this stock ABR (Average Brokerage Recommendation) of 1.63, indicating analysts in general look favorably on the company's future prospects. In the last three months, insiders sold 242,028 shares of company stock valued at $3,773,235.

A number of equities research analysts have weighed in on the company.

Among 19 analysts covering Pure Storage (PSTG), 12 have Buy rating, 0 Sell and 7 Hold. ValuEngine cut shares of Pure Storage from a "hold" rating to a "sell" rating in a report on Monday, September 11th. On average, equities analysts expect that Pure Storage, Inc. will post ($0.56) earnings per share for the current year. Vetr lowered Pure Storage from a "strong-buy" rating to a "buy" rating and set a $12.98 target price on the stock.in a research report on Thursday, December 8th. The company was maintained on Friday, August 25 by Maxim Group. Over the 52-week time span, the stock notched a high price of $16.57 and its minimum price was $9.12. Zacks Investment Research's EPS averages are a mean average based on a survey of research analysts that follow Pure Storage. The stock's market capitalization is 3.44B, it has a 52-week low of 9.12 and a 52-week high of 16.64. The firm's 50-day moving average is $15.45 and its 200 day moving average is $13.05. The company has market cap of $3.49 billion.

Pure Storage (NYSE:PSTG) last released its earnings results on Thursday, August 24th. Analysts forecast earnings per share of $-0.22, up exactly $0.02 or 8.33 % from 2014's $-0.24 EPS. The firm had revenue of $224.50 million during the quarter, compared to the consensus estimate of $217.97 million. During the same period in the prior year, the firm posted ($0.16) earnings per share. The company's quarterly revenue was up 37.6% compared to the same quarter previous year. Pure Storage had 40 analyst reports since March 24, 2016 according to SRatingsIntel. If you are reading this news story on another site, it was illegally copied and reposted in violation of U.S. and worldwide trademark & copyright laws.

08/25/2017 - Pure Storage was upgraded to "buy" by analysts at Summit Redstone Partners.

WARNING: This news story was first reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are viewing this report on another website, it was illegally stolen and reposted in violation of USA and worldwide copyright & trademark law.

Pure Storage, Inc provides an enterprise data storage platform.



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