Pure Storage, Inc. (NYSE:PSTG)‘s stock had its “buy” rating reissued by equities researchers at UBS AG in a research report issued on Monday.

Several other brokerages have also recently weighed in on PSTG. Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.50 target price on shares of Pure Storage in a report on Friday, August 25th. ValuEngine raised shares of Pure Storage from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. BidaskClub raised shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Morgan Stanley reissued an “equal weight” rating on shares of Pure Storage in a report on Saturday. Finally, Maxim Group reissued a “hold” rating and set a $15.00 price objective on shares of Pure Storage in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $15.61.

Pure Storage (NYSE:PSTG) opened at 15.64 on Monday. Pure Storage has a 1-year low of $9.12 and a 1-year high of $15.66. The company’s 50 day moving average is $13.63 and its 200 day moving average is $12.13. The company’s market cap is $3.31 billion.

Pure Storage (NYSE:PSTG) last issued its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.20. The firm had revenue of $224.50 million for the quarter, compared to analysts’ expectations of $217.97 million. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. The firm’s revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) earnings per share. Equities research analysts forecast that Pure Storage will post ($0.21) EPS for the current year.

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In other Pure Storage news, CFO Timothy Riitters sold 55,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $14.82, for a total transaction of $815,100.00. Following the sale, the chief financial officer now directly owns 332,200 shares in the company, valued at approximately $4,923,204. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President David Hatfield sold 30,000 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $14.66, for a total transaction of $439,800.00. Following the sale, the president now owns 215,190 shares in the company, valued at $3,154,685.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,761 shares of company stock worth $1,529,634. 41.47% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Pure Storage by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,513,166 shares of the technology company’s stock worth $185,913,000 after purchasing an additional 863,990 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Pure Storage by 26.7% during the 2nd 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 in the last quarter. FMR LLC boosted its position in shares of Pure Storage by 10.9% during the 2nd quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock worth $81,467,000 after purchasing an additional 622,600 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Pure Storage by 5.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,097,439 shares of the technology company’s stock worth $39,679,000 after purchasing an additional 146,411 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Pure Storage by 91.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,461,000 shares of the technology company’s stock worth $31,525,000 after purchasing an additional 1,177,000 shares in the last quarter. Institutional investors own 35.30% of the company’s stock.

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.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

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