CFO Riitters Timothy sold 30,000 shares in Pure Storage, Inc. (NYSE:PSTG) for $388,697 in transaction occurred on 2018/12/19. After making this transaction, the CFO owns a direct stake of 498,300 shares, worth $7,525,174, as per the last closing price. On 2018/12/06 Riitters Timothy, CFO at PSTG, dumped 25,000 shares at an average price of $18.14 per share. The selling total is valued at $7,612,294.
Separately, it had been reported that some other PSTG insiders also took part of the insider trading activity. Chief Technology Officer, 10% Owner, Colgrove John had divested 4,779 shares for $235,484 through a trade on 2018/10/05. Following this activity, the insider holds 121,243 shares worth $4,558,970 as of recent close. Wall Street’s most bullish Pure Storage, Inc. (NYSE:PSTG) analysts are predicting the share price to blow past $33 per share during the next 12 months. The current median share price forecast by them is $26, suggesting that the stock could increase 34.3% in that time frame. The average price target of $25.95 calls for a nearly 34.04% increase in the stock price.
Pure Storage, Inc. (PSTG) trading activity significantly improved as the volume at ready counter increased to 3,834,214 shares versus 2,579,680 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,022,779 shares. The share price rose 3.03% in recent trade and currently has a stock-market value of $4.67B. The shares finished at $19.36, after trading as low as $18.89 earlier in the session. It hit an intraday high Tuesday at $19.465. The stock is now 38.38% above against its bear-market low of $13.99 on December 24, 2018. It has retreated -50.52% since it’s 52-week high of $29.14 reached in September. Now the market price is up 0.52% on the year and up 20.4% YTD.
PSTG’s 50 day simple moving average (SMA 50) price is $17.34 and its 200-day simple moving average (SMA 200) price is $21.75. The company’s stock currently has a total float of 205.41M shares. Its weekly volatility is hovering around 2.8% and felt 3.04% volatility in price over a month. On the upside, the share price will test short term resistance at around $19.59. On a downside, the stock is likely to find some support, which begins at $19.01. The failure to get near-term support could push it to $18.66.
It had seen a new analyst call from Cowen, which initiated the stock at Market Perform on December 11. Analysts at Goldman, shed their negative views on October 17 by lifting it fromSell to Neutral. Brokerage firm Lake Street, looks cautious as they stick to prior recommendation of Buy, in a call on August 22. However, they did change the target price from $24 to $29. JP Morgan, released new analyst coverage on July 27, calling the stock is Overweight.
Moreover, it trades for 44.1 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 6.47x price/book and 3.66x price/sales. Compared to others, Pure Storage, Inc. is in a different league with regards to profitability, having net margins of -12.9%. To put some perspective around this, the industry’s average net margin is 1.67%. PSTG’s ROE is -25.8%, which is also considerably worse than the industry’s ROE of 9.74%. It’s also very liquid in the near term, with a current ratio of 3.6. The stock has a debt/capital of 0.63.
Shares of Pure Storage, Inc. (PSTG) have gained 7.2% since the company’s last earnings report. Over the past 12 fiscal quarters, Pure Storage, Inc. (NYSE:PSTG) has topped consensus earnings estimates in 10 quarters (83%), missed earnings in 1 quarters (8%), whereas at 1 occasion EPS met analyst expectations. PSTG last reported earnings on November 19, 2018 when it released Oct-18 results that exceeded expectations. The company raked in $0.13 per share, -99.68% change on the same period last year. That was better than consensus for $0.09. Revenue for the recent quarter stood at $372.78 million, up 34% on last year and above the $367.36 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $321 million to $345 million, which should be compared with $319.17 million generated last year. EPS is seen in a range of -$0.14 to $0.01, against the -$0.09 reported a year ago.