Pure Storage Inc. (PSTG) turns bullish with gain of 0.27 points

Pure Storage Inc. (NYSE: PSTG) is -0.06% lower on its value in year-to-date trading and has touched a low of $7.93 and a high of $20.50 in the current 52-week trading range. The PSTG stock was last observed hovering at around $17.10 in the recent trading session, with the current gains setting it 0.27% off its average median price target of $21.00 for the next 12 months. It is also 33.19% off the consensus price target high of $26.00 offered by 23 analysts, but current levels are -15.8% lower than the price target low of $15.00 for the same period.

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At last check, trading at $17.37, the stock is 2.24% and 7.81% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.64 million and changing 1.58% at the moment leaves the stock 6.25% off its SMA200. PSTG registered 11.69% gain for a year compared to 6-month loss of -3.44%. The firm has a 50-day simple moving average (SMA 50) of $16.96 and a 200-day simple moving average (SMA200) of $15.72.

The stock witnessed a -2.84% gain in the last 1 month and extending the period to 3 months gives it a 42.50%, and is -1.33% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.54% over the week and 4.10% over the month.

Pure Storage Inc. (PSTG) has around 3500 employees, a market worth around $4.57B and $1.68B in sales. Fwd P/E is 46.59. Profit margin for the company is -11.40%. Distance from 52-week low is 119.04% and -15.27% from its 52-week high. The company has generated returns on investments over the last 12 months (-15.10%).

Pure Storage Inc. (PSTG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Pure Storage Inc. (PSTG) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.00, where 6 rate it as a Hold and 1 think it is a “Overweight”. 16 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Pure Storage Inc. is expected to release its quarterly report on 08/20/2020 and quarterly earnings per share for the current quarter are estimated at $0.01 with sales reaching $396.16M over the same period.The EPS is expected to shrink by -3.40% this year, but quarterly earnings will post 5.00% year-over-year.

Pure Storage Inc. (PSTG) Top Institutional Holders

331 institutions hold shares in Pure Storage Inc. (PSTG), with 25.53M shares held by insiders accounting for 9.63% while institutional investors hold 91.98% of the company’s shares. The shares outstanding are 262.94M, and float is at 243.39M with Short Float at 6.28%. Institutions hold 83.12% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 21.54 million shares valued at $264.99 million. The investor’s holdings represent 8.13% of the PSTG Shares outstanding. As of Mar 30, 2020, the second largest holder is FMR, LLC with 20.29 million shares valued at $249.55 million to account for 7.66% of the shares outstanding. The other top investors are Champlain Investment Partners, LLC which holds 18.4 million shares representing 6.94% and valued at over $226.26 million, while Price (T.Rowe) Associates Inc holds 6.12% of the shares totaling 16.22 million with a market value of $199.57 million.

Pure Storage Inc. (PSTG) Insider Activity

A total of 24 insider transactions have happened at Pure Storage Inc. (PSTG) in the last six months, with sales accounting for 12 and purchases happening 12 times. The most recent transaction is an insider sale by Dietzen Scott, the company’s Director. SEC filings show that Dietzen Scott sold 14,037 shares of the company’s common stock on May 29 at a price of $18.02 per share for a total of $0.25 million. Following the sale, the insider now owns 0.73 million shares.

Pure Storage Inc. disclosed in a document filed with the SEC on Feb 21 that Dietzen Scott (Director) sold a total of 185,000 shares of the company’s common stock. The trade occurred on Feb 21 and was made at $17.96 per share for $3.32 million. Following the transaction, the insider now directly holds 0.73 million shares of the PSTG stock.

Pure Storage Inc. (PSTG): Who are the competitors?

The company’s main competitors (and peers) include Seagate Technology plc (STX) that is 1.13% higher over the past 12 months. Short interest in the company’s stock has risen 8.51% from the last report on May 14, 2020 to stand at a total of 13.98 million short shares sold with a short interest ratio of 5.28.

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