Pure Storage Inc (NYSE:PSTG) was the recipient of some unusual options trading on Tuesday. Traders purchased 1,958 put options on the stock. This is an increase of 1,940% compared to the typical daily volume of 96 put options.
Pure Storage (PSTG) opened at $18.48 on Friday. Pure Storage has a 12 month low of $9.12 and a 12 month high of $19.27.
Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $277.70 million during the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.86%. Pure Storage’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. equities research analysts expect that Pure Storage will post -0.97 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new position in Pure Storage in the third quarter valued at about $700,000. Cubist Systematic Strategies LLC increased its stake in shares of Pure Storage by 2,440.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 43,188 shares of the technology company’s stock worth $691,000 after purchasing an additional 41,488 shares in the last quarter. Granahan Investment Management Inc. MA grew its stake in Pure Storage by 14.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 197,173 shares of the technology company’s stock worth $3,153,000 after acquiring an additional 24,663 shares during the period. Maple Rock Capital Partners Inc. purchased a new stake in Pure Storage in the 3rd quarter worth approximately $12,792,000. Finally, First Republic Investment Management Inc. grew its stake in Pure Storage by 159.0% in the 3rd quarter. First Republic Investment Management Inc. now owns 103,258 shares of the technology company’s stock worth $1,651,000 after acquiring an additional 63,392 shares during the period. Hedge funds and other institutional investors own 38.46% of the company’s stock.
A number of research firms have recently weighed in on PSTG. Summit Redstone raised Pure Storage from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. BidaskClub upgraded Pure Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. KeyCorp restated a “buy” rating on shares of Pure Storage in a research note on Wednesday, November 1st. Wells Fargo & Company began coverage on Pure Storage in a research note on Tuesday, November 14th. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Maxim Group restated a “hold” rating and set a $20.00 target price (up from $15.00) on shares of Pure Storage in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.50.
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Pure Storage Company Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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