Today: Today, Pure Storage Inc. (PSTG) Given “Buy” Rating at Stifel Nicolaus

Today, Pure Storage Inc. (PSTG) Given “Buy” Rating at Stifel Nicolaus

Pure Storage Inc. (NYSE:PSTG)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a research note issued to investors on Monday. They currently have a $20.00 price target on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 40.35% from the stock’s current price.

PSTG has been the subject of a number of other research reports. Vetr cut shares of Pure Storage from a “buy” rating to a “hold” rating and set a $14.72 price objective for the company. in a report on Tuesday, October 4th. JPMorgan Chase & Co. assumed coverage on shares of Pure Storage in a report on Tuesday, October 18th. They issued a “neutral” rating and a $13.00 price objective for the company. JMP Securities restated a “positive” rating and issued a $19.00 price objective on shares of Pure Storage in a report on Friday, August 26th. KeyCorp boosted their price target on shares of Pure Storage from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, August 26th. Finally, William Blair reiterated an “outperform” rating on shares of Pure Storage in a report on Friday, August 26th. Ten investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.26.

Pure Storage (NYSE:PSTG) traded up 0.456% on Monday, hitting $14.315. 548,803 shares of the company’s stock were exchanged. The company’s market cap is $2.81 billion. The company’s 50-day moving average price is $13.22 and its 200-day moving average price is $12.61. Pure Storage has a 12-month low of $9.62 and a 12-month high of $18.39.

In other Pure Storage news, CFO Timothy Riitters sold 3,231 shares of the company’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 owns 31,769 shares in the company, valued at approximately $428,881.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 46.58% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Pure Storage by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 85,063 shares of the company’s stock worth $1,153,000 after buying an additional 421 shares during the last quarter. Thompson Investment Management Inc. increased its position in shares of Pure Storage by 3.5% in the third quarter. Thompson Investment Management Inc. now owns 14,850 shares of the company’s stock worth $201,000 after buying an additional 500 shares during the last quarter. BlackRock Inc. increased its position in shares of Pure Storage by 3.0% in the third quarter. BlackRock Inc. now owns 66,418 shares of the company’s stock worth $900,000 after buying an additional 1,910 shares during the last quarter. Wells Fargo & Company MN boosted its position in Pure Storage by 7.5% in the third quarter. Wells Fargo & Company MN now owns 35,355 shares of the company’s stock worth $479,000 after buying an additional 2,473 shares during the period. Finally, Barclays PLC boosted its position in Pure Storage by 26.9% in the second quarter. Barclays PLC now owns 18,150 shares of the company’s stock worth $198,000 after buying an additional 3,850 shares during the period. Institutional investors own 49.91% of the company’s stock.

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