Trading Report: Today, Barclays PLC Reiterates Equal Weight Rating for Pure Storage Inc. (PSTG)

Today, Barclays PLC Reiterates Equal Weight Rating for Pure Storage Inc. (PSTG)

Pure Storage Inc. (NYSE:PSTG)‘s stock had its “equal weight” rating reiterated by research analysts at Barclays PLC in a research report issued to clients and investors on Tuesday.

A number of other research analysts have also recently issued reports on the company. Vetr cut Pure Storage from a “hold” rating to a “sell” rating and set a $13.00 price objective for the company. in a research note on Monday, August 15th. Wells Fargo & Co. started coverage on Pure Storage in a research note on Tuesday, August 2nd. They set a “market perform” rating for the company. Oppenheimer Holdings Inc. upgraded Pure Storage from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research note on Wednesday, August 31st. Needham & Company LLC reiterated a “buy” rating on shares of Pure Storage in a research note on Monday, August 29th. Finally, Morgan Stanley restated a “buy” rating and issued a $21.00 price target on shares of Pure Storage in a research note on Monday, September 12th. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Pure Storage currently has an average rating of “Buy” and an average price target of $16.26.

Shares of Pure Storage (NYSE:PSTG) opened at 14.25 on Tuesday. Pure Storage has a one year low of $9.62 and a one year high of $18.39. The company’s 50-day moving average price is $13.22 and its 200-day moving average price is $12.61. The stock’s market cap is $2.80 billion.

In other Pure Storage news, CFO Timothy Riitters sold 3,231 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $13.50, for a total transaction of $43,618.50. Following the completion of the transaction, the chief financial officer now directly owns 31,769 shares of the company’s stock, valued at approximately $428,881.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 46.58% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bridgewater Wealth & Financial Management LLC acquired a new position in Pure Storage during the second quarter valued at approximately $217,000. Emerald Acquisition Ltd. acquired a new position in Pure Storage during the second quarter valued at approximately $199,000. Swiss National Bank acquired a new position in Pure Storage during the second quarter valued at approximately $743,000. Buckingham Asset Management LLC acquired a new position in Pure Storage during the second quarter valued at approximately $2,384,000. Finally, California State Teachers Retirement System raised its position in Pure Storage by 110.1% in the second quarter. California State Teachers Retirement System now owns 128,016 shares of the company’s stock valued at $1,395,000 after buying an additional 67,099 shares during the period. 49.97% of the stock is owned by institutional investors and hedge funds.

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