Pure Storage Inc. (NYSE:PSTG)‘s stock had its “buy” rating restated by Stifel Nicolaus in a research report issued to clients and investors on Monday. They presently have a $20.00 price target on the stock. Stifel Nicolaus’ target price indicates a potential upside of 40.35% from the company’s current price.
Several other research firms have also recently issued reports on PSTG. Vetr raised Pure Storage from a “buy” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Thursday, October 27th. Needham & Company LLC restated a “buy” rating on shares of Pure Storage in a research report on Monday, August 29th. Wells Fargo & Co. restated a “market perform” rating and set a $13.00 price target on shares of Pure Storage in a research report on Friday, October 21st. Morgan Stanley restated a “buy” rating and set a $21.00 price target on shares of Pure Storage in a research report on Monday, September 12th. Finally, Jefferies Group lifted their price target on Pure Storage from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, August 26th. Ten investment 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 stock. The company presently has an average rating of “Buy” and a consensus target price of $16.26.
Pure Storage (NYSE:PSTG) traded up 0.42% during mid-day trading on Monday, reaching $14.31. 547,688 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $13.22 and a 200-day moving average of $12.61. Pure Storage has a one year low of $9.62 and a one year high of $18.39. The stock’s market cap is $2.81 billion.
In related news, CFO Timothy Riitters sold 3,231 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $13.50, for a total transaction of $43,618.50. Following the completion of the sale, the chief financial officer now owns 31,769 shares in the company, valued at $428,881.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 46.58% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Credit Suisse AG boosted its stake in Pure Storage by 29.3% in the third quarter. Credit Suisse AG now owns 41,084 shares of the company’s stock worth $557,000 after buying an additional 9,300 shares during the period. Verition Fund Management LLC purchased a new stake in Pure Storage during the third quarter worth approximately $201,000. D. E. Shaw & Co. Inc. purchased a new stake in Pure Storage during the third quarter worth approximately $1,208,000. The Manufacturers Life Insurance Company purchased a new stake in Pure Storage during the third quarter worth approximately $658,000. Finally, Two Sigma Advisers LP boosted its stake in Pure Storage by 27.0% in the third quarter. Two Sigma Advisers LP now owns 441,900 shares of the company’s stock worth $5,988,000 after buying an additional 94,000 shares during the period. Institutional investors own 49.91% of the company’s stock.
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