Things appear to be looking up for Pure Storage Inc (PSTG)

Pure Storage Inc (NYSE: PSTG) is 25.49% higher on its value in year-to-date trading and has touched a low of $22.14 and a high of $44.35 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PSTG stock was last observed hovering at around $44.14 in the last trading session, with the day’s gains setting it 0.61%.

Currently trading at $44.75, the stock is 10.76% and 19.93% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.74 million and changing 1.38% at the moment leaves the stock 28.11% off its SMA200. PSTG registered 47.01% gain for a year compared to 6-month gain of 22.70%. The firm has a 50-day simple moving average (SMA 50) of $4.58 and a 200-day simple moving average (SMA200) of $57.44.

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The stock witnessed a 22.10% loss in the last 1 month and extending the period to 3 months gives it a 26.63%, and is 5.92% up 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 2.99% over the week and 3.07% over the month.

Current P/E ratio is 236.77 and Fwd P/E is 29.37. Profit margin for the company is 2.47%. Distance from 52-week low is 102.12% and 0.91% from its 52-week high. The company has generated returns on investments over the last 12 months (5.13%).

Pure Storage Inc quarterly earnings per share for the current quarter are estimated at $0.44 with sales reaching $784.7M over the same period.The EPS is expected to shrink by -3.43% this year, but quarterly earnings will post 2.60% year-over-year. Quarterly sales are estimated to shrink -3.10% in year-over-year returns.

Pure Storage Inc (PSTG) Top Institutional Holders

649 institutions hold shares in Pure Storage Inc (PSTG), with institutional investors hold 91.84% of the company’s shares. The shares outstanding are 304.08M, and float is at 296.13M with Short Float at 3.78%. Institutions hold 86.79% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 46.13 million shares valued at $1.7 billion. The investor’s holdings represent 14.79% of the PSTG Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 31.15 million shares valued at $1.15 billion to account for 9.99% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 15.98 million shares representing 5.12% and valued at over $588.42 million, while Blackrock Inc. holds 4.92% of the shares totaling 15.36 million with a market value of $565.6 million.

Pure Storage Inc (PSTG) Insider Activity

A total of 6 insider transactions have happened at Pure Storage Inc (PSTG) in the last six months, with sales accounting for 6 and purchases happening 0 times. The most recent transaction is an insider sale by Krysler P. Kevan ,the company’sChief Financial Officer. SEC filings show that Krysler P. Kevan sold 26,257 shares of the company’s common stock on Dec 28 at a price of $35.89 per share for a total of $0.94 million. Following the sale, the insider now owns 0.44 million shares.

Pure Storage Inc disclosed in a document filed with the SEC on Dec 19 that Taylor Roxanne (Director) sold a total of 16,216 shares of the company’s common stock. The trade occurred on Dec 19 and was made at $37.05 per share for $0.6 million. Following the transaction, the insider now directly holds 55743.0 shares of the PSTG stock.

Still, SEC filings show that on Dec 07, Tomb Gregory (Director) disposed off 8,475 shares at an average price of $32.53 for $0.28 million. The insider now directly holds 22,137 shares of Pure Storage Inc (PSTG).

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

The company’s main competitors (and peers) include SmartMetric Inc. (SMME) that is trading -76.32% down over the past 12 months. Seagate Technology Holdings PLC (STX) that is 25.35% higher over the same period.