Dissecting the Insider Trading Patterns of Pure Storage, Inc. (PSTG)

Marco Green
November 15, 2017

PSTG's average trading volume during the past 20 days is higher than the average volume over the past 100 days, which could be an indication that investors are feeling more certain than usual about the direction of PSTG's future price movements.

News headlines about Pure Storage (NYSE:PSTG) have trended positive recently, Accern Sentiment Analysis reports. The number of shares now owned by investors are 208.34 mln.

Pure Storage, Inc. (PSTG) closed 31.21% above its 200-day moving average and is 6.69% above another chart threshold, its 50-day moving average. UBS Asset Management Americas Inc. now owns 26,500 shares of the technology company's stock worth $260,000 after acquiring an additional 9,100 shares during the period. The insider now holds 0 shares of Pure Storage, Inc.

BlackRock Advisors LLC reduced its position in shares of Pure Storage Inc. Marcus Capital LLC now owns 231,500 shares of the technology company's stock worth $2,966,000 after purchasing an additional 84,600 shares during the last quarter. Voya Investment Management LLC now owns 43,164 shares of the technology company's stock worth $553,000 after purchasing an additional 16,955 shares during the last quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company's stock worth $90,427,000 after purchasing an additional 1,489,008 shares during the last quarter.

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In other news, President David Hatfield sold 30,000 shares of Pure Storage stock in a transaction that occurred on Monday, September 18th. The stock decreased 0.06% or $0.01 on November 14, reaching $16.77. Following the completion of the transaction, the president now directly owns 215,190 shares in the company, valued at approximately $3,154,685.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The disclosure for this sale can be found here. (NYSE:PSTG)'s stock was 48.36%. During the last 52 weeks, the (NYSE:PSTG) price has been as high as $16.87 and as low as $9.12.

Pure Storage (NYSE:PSTG) last released its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.31) by $0.20. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The firm earned $197 million during the quarter, compared to analyst estimates of $192.36 million. A month ago, they told us to expect earnings of US$0.06 per share while three months ago their EPS consensus estimate was US$0.05. Pure Storage's revenue was up 37.6% compared to the same quarter last year. equities research analysts predict that Pure Storage, Inc. will post -0.97 EPS for the current year. (PSTG) - averaging the work of different analysts - reveals a mean PT of $17.22/share. JMP Securities increased their target price on shares of Pure Storage from $16.00 to $22.00 and gave the stock an "outperform" rating in a report on Friday, October 13th. Jefferies Group LLC reissued a "hold" rating and issued a $13.50 price target on shares of Pure Storage in a research note on Friday, August 25th. Of those analysts, 11 rate stock as a Strong Buy, 3 rate it as Hold, and just no analyst rates it as a Moderate Sell. Three months ago, analysts assigned PSTG a 4.25 rating, which implies that analysts have become more optimistic about the outlook for the stock over the next year. Evercore has "Buy" rating and $21 target.

Pure Storage, Inc provides a data platform.

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