Pure Storage (PSTG) Now Covered by Deutsche Bank
Deutsche Bank began coverage on shares of Pure Storage (NYSE:PSTG) in a research report released on Monday morning. The brokerage issued a buy rating and a $24.00 target price on the technology company’s stock.
A number of other brokerages have also issued reports on PSTG. BMO Capital Markets restated a buy rating and issued a $22.00 target price on shares of Pure Storage in a research note on Thursday, March 1st. BTIG Research raised their target price on Pure Storage to $25.00 and gave the stock a buy rating in a research note on Friday, March 2nd. Maxim Group restated a hold rating and issued a $21.00 target price (up previously from $20.00) on shares of Pure Storage in a research note on Friday, March 2nd. Susquehanna Bancshares restated a neutral rating and issued a $25.00 target price (up previously from $15.00) on shares of Pure Storage in a research note on Friday, March 2nd. Finally, Wells Fargo raised their target price on Pure Storage from $23.00 to $30.00 and gave the stock an outperform rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $21.72.
Pure Storage stock opened at $19.48 on Monday. Pure Storage has a 1-year low of $9.81 and a 1-year high of $22.60.
In other Pure Storage news, Director Scott Dietzen sold 125,000 shares of Pure Storage stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $21.37, for a total transaction of $2,671,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President David Hatfield sold 95,817 shares of Pure Storage stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $18.01, for a total value of $1,725,664.17. The disclosure for this sale can be found here. Insiders have sold a total of 842,243 shares of company stock valued at $16,503,228 in the last quarter. Company insiders own 41.47% of the company’s stock.
Large investors have recently bought and sold shares of the company. Fortaleza Asset Management Inc. acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $154,000. Ardsley Advisory Partners acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $159,000. SG Americas Securities LLC acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $162,000. Great West Life Assurance Co. Can grew its position in shares of Pure Storage by 151.3% during 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 acquiring an additional 6,810 shares during the period. Finally, Barings LLC acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $250,000. Hedge funds and other institutional investors own 45.48% of the company’s stock.
Pure Storage Company Profile
Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.
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