Pure Storage Inc (NYSE: PSTG) is 49.02% higher on its value in year-to-date trading and has touched a low of $22.14 and a high of $58.46 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 $52.73 in the last trading session, with the day’s gains setting it 0.41%.
Currently trading at $53.14, the stock is 2.15% and 10.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.78 million and changing 0.78% at the moment leaves the stock 35.30% off its SMA200. PSTG registered 104.07% gain for a year compared to 6-month gain of 51.22%. The firm has a 50-day simple moving average (SMA 50) of $5.65 and a 200-day simple moving average (SMA200) of $71.95.
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The stock witnessed a -1.70% loss in the last 1 month and extending the period to 3 months gives it a 42.54%, and is -0.73% 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 3.63% over the week and 3.68% over the month.
Pure Storage Inc (PSTG) has around 5600 employees, a market worth around $17.27B and $2.83B in sales. Current P/E ratio is 318.39 and Fwd P/E is 29.23. Profit margin for the company is 2.17%. Distance from 52-week low is 140.02% and -9.10% from its 52-week high. The company has generated returns on investments over the last 12 months (4.11%).
Pure Storage Inc quarterly earnings per share for the current quarter are estimated at $0.21 with sales reaching $680.99M over the same period.The EPS is expected to grow by 7.12% this year, but quarterly earnings will post 10.50% year-over-year.
658 institutions hold shares in Pure Storage Inc (PSTG), with institutional investors hold 90.64% of the company’s shares. The shares outstanding are 319.52M, and float is at 303.99M with Short Float at 2.70%. Institutions hold 85.45% 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
The most recent transaction is an insider sale by Singh Ajay, the company’s Chief Product Officer. SEC filings show that Singh Ajay sold 37,588 shares of the company’s common stock on Apr 05 ’24 at a price of $53.54 per share for a total of $2.01 million. Following the sale, the insider now owns 0.38 million shares.
Pure Storage Inc disclosed in a document filed with the SEC on Apr 05 ’24 that Pure Storage, Inc. (Director) sold a total of 7,500 shares of the company’s common stock. The trade occurred on Apr 05 ’24 and was made at $52.80 per share for $0.4 million. Following the transaction, the insider now directly holds 28896.0 shares of the PSTG stock.
Still, SEC filings show that on Apr 04 ’24, Dietzen Scott (Director) disposed off 272,541 shares at an average price of $53.33 for $14.54 million. The insider now directly holds 645,971 shares of Pure Storage Inc (PSTG).
