Pure Storage (NYSE:PSTG) issued its earnings results on Monday. The technology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03, Morningstar.com reports. The firm had revenue of $372.80 million during the quarter, compared to analysts’ expectations of $367.37 million. Pure Storage had a negative return on equity of 30.30% and a negative net margin of 15.07%. Pure Storage’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period last year, the business earned ($0.01) earnings per share.

Shares of PSTG stock opened at $17.53 on Tuesday. Pure Storage has a 1 year low of $15.81 and a 1 year high of $29.14. The company has a market cap of $4.41 billion, a PE ratio of -20.87 and a beta of 1.76. The company has a current ratio of 4.03, a quick ratio of 3.91 and a debt-to-equity ratio of 0.68.

Several research analysts recently commented on PSTG shares. JPMorgan Chase & Co. started coverage on Pure Storage in a research report on Friday, July 27th. They issued an “overweight” rating and a $30.00 target price for the company. Bank of America reissued a “buy” rating and set a $33.00 price objective on shares of Pure Storage in a report on Wednesday, September 19th. Zacks Investment Research cut Pure Storage from a “buy” rating to a “hold” rating in a report on Monday, August 27th. Deutsche Bank lifted their price objective on Pure Storage from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, ValuEngine cut Pure Storage from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Pure Storage currently has an average rating of “Buy” and an average price target of $26.42.

In other news, CFO Timothy Riitters sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $28.22, for a total transaction of $126,990.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Dietzen sold 3,377 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $25.18, for a total transaction of $85,032.86. The disclosure for this sale can be found here. Insiders have sold 214,417 shares of company stock worth $5,780,580 over the last quarter. 15.30% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Pure Storage by 12.5% during the second quarter. Legal & General Group Plc now owns 20,197 shares of the technology company’s stock worth $482,000 after purchasing an additional 2,248 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Pure Storage by 13.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,513 shares of the technology company’s stock valued at $532,000 after buying an additional 2,471 shares during the period. D.A. Davidson & CO. lifted its holdings in Pure Storage by 12.2% in the second quarter. D.A. Davidson & CO. now owns 23,545 shares of the technology company’s stock valued at $562,000 after buying an additional 2,552 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Pure Storage by 169.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,090 shares of the technology company’s stock valued at $110,000 after buying an additional 2,570 shares during the period. Finally, First Mercantile Trust Co. lifted its holdings in Pure Storage by 37.2% in the second quarter. First Mercantile Trust Co. now owns 13,508 shares of the technology company’s stock valued at $323,000 after buying an additional 3,662 shares during the period. Institutional investors own 72.54% of the company’s stock.

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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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Earnings History for Pure Storage (NYSE:PSTG)

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