Pure Storage Inc. (NYSE:PSTG)‘s stock had its “buy” rating reaffirmed by 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 objective suggests a potential upside of 40.35% from the company’s current price.

A number of other equities research analysts also recently issued reports on PSTG. Wells Fargo & Co. reissued a “market perform” rating and set a $13.00 price objective on shares of Pure Storage in a research report on Friday, October 21st. JMP Securities reissued a “positive” rating and set a $19.00 price objective on shares of Pure Storage in a research report on Friday, August 26th. Vetr raised shares of Pure Storage from a “buy” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research report on Thursday, October 27th. Barclays PLC boosted their price objective on shares of Pure Storage from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, August 26th. Finally, Jefferies Group boosted their price objective on shares of Pure Storage from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, August 26th. Ten analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $16.26.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

Pure Storage (NYSE:PSTG) traded up 0.456% during midday trading on Monday, reaching $14.315. The company’s stock had a trading volume of 548,803 shares. The firm’s market cap is $2.81 billion. Pure Storage has a one year low of $9.62 and a one year high of $18.39. The firm has a 50 day moving average price of $13.22 and a 200 day moving average price of $12.61.

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In related news, CFO Timothy Riitters sold 3,231 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $13.50, for a total transaction of $43,618.50. Following the transaction, the chief financial officer now directly owns 31,769 shares in the company, valued at approximately $428,881.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 46.58% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Raymond James & Associates purchased a new position in shares of Pure Storage during the second quarter valued at approximately $133,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Pure Storage during the second quarter valued at approximately $140,000. Royal Bank of Canada increased its position in shares of Pure Storage by 5,486.4% in the second quarter. Royal Bank of Canada now owns 13,966 shares of the company’s stock valued at $152,000 after buying an additional 13,716 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Pure Storage during the second quarter valued at approximately $195,000. Finally, Barclays PLC increased its position in shares of Pure Storage by 26.9% in the second quarter. Barclays PLC now owns 18,150 shares of the company’s stock valued at $198,000 after buying an additional 3,850 shares during the last quarter. Institutional investors own 49.91% of the company’s stock.

Pure Storage Company Profile

Pure Storage, Inc provides an enterprise data storage platform. The Company’s storage platform consists of approximately three integrated components, including the Purity Operating Environment, which is its flash-optimized software; FlashArray, which is its modular and scalable all-flash array hardware, and Pure1, which is its cloud-based management and support.

5 Day Chart for NYSE:PSTG

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