Pure Storage Inc (NYSE:PSTG) – Research analysts at William Blair boosted their FY2018 earnings per share (EPS) estimates for shares of Pure Storage in a research report issued on Wednesday. William Blair analyst J. Ader now forecasts that the technology company will earn ($0.95) per share for the year, up from their prior forecast of ($1.00). William Blair currently has a “Ourperform” rating on the stock. William Blair also issued estimates for Pure Storage’s Q1 2019 earnings at ($0.28) EPS, Q2 2019 earnings at ($0.27) EPS, Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.13) EPS, FY2020 earnings at ($0.62) EPS and FY2021 earnings at ($0.30) EPS.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. Pure Storage had a negative return on equity of 44.86% and a negative net margin of 22.86%. The firm had revenue of $277.70 million for the quarter, compared to the consensus estimate of $272.07 million. During the same quarter last year, the business posted ($0.10) earnings per share. The firm’s revenue was up 41.0% compared to the same quarter last year.

A number of other brokerages also recently commented on PSTG. UBS reiterated a “buy” rating and set a $22.00 price objective (up previously from $18.00) on shares of Pure Storage in a research report on Wednesday, November 29th. Maxim Group reiterated a “hold” rating and set a $20.00 price objective (up previously from $15.00) on shares of Pure Storage in a research report on Wednesday, November 29th. Lake Street Capital set a $21.00 price objective on Pure Storage and gave the stock a “buy” rating in a research report on Wednesday, November 29th. They noted that the move was a valuation call. BMO Capital Markets lifted their price objective on Pure Storage to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 29th. Finally, Barclays reiterated a “hold” rating and set a $19.00 price objective on shares of Pure Storage in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Pure Storage presently has an average rating of “Buy” and a consensus target price of $18.55.

Shares of Pure Storage (PSTG) traded up $0.50 during trading on Monday, reaching $17.04. The company had a trading volume of 2,593,739 shares, compared to its average volume of 1,772,798. Pure Storage has a 52-week low of $9.12 and a 52-week high of $19.27.

In other news, CFO Timothy Riitters sold 25,000 shares of Pure Storage stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $15.85, for a total value of $396,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President David Hatfield sold 1,853 shares of Pure Storage stock in a transaction on Friday, October 6th. The shares were sold at an average price of $15.55, for a total value of $28,814.15. The disclosure for this sale can be found here. Insiders sold 317,028 shares of company stock valued at $5,304,635 over the last ninety days. Insiders own 41.47% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its holdings in Pure Storage by 14.0% in the second quarter. First Trust Advisors LP now owns 15,607 shares of the technology company’s stock valued at $200,000 after purchasing an additional 1,919 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Pure Storage by 38.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock valued at $105,000 after purchasing an additional 2,284 shares during the period. New York State Common Retirement Fund boosted its holdings in Pure Storage by 4.5% in the second quarter. New York State Common Retirement Fund now owns 99,500 shares of the technology company’s stock valued at $1,275,000 after purchasing an additional 4,278 shares during the period. American International Group Inc. boosted its holdings in Pure Storage by 8.1% in the third quarter. American International Group Inc. now owns 62,411 shares of the technology company’s stock valued at $998,000 after purchasing an additional 4,666 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Pure Storage by 8.9% in the second quarter. JPMorgan Chase & Co. now owns 75,274 shares of the technology company’s stock valued at $964,000 after purchasing an additional 6,169 shares during the period. 38.46% of the stock is owned by institutional investors and hedge funds.

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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.

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