William Blair reiterated their ourperform rating on shares of Pure Storage, Inc. (NYSE:PSTG) in a report published on Friday morning.

Several other analysts also recently weighed in on PSTG. Robert W. Baird set a $14.00 target price on shares of Pure Storage and gave the company a hold rating in a report on Monday, August 14th. KeyCorp lifted their target price on shares of Pure Storage from $17.00 to $18.00 and gave the company an overweight rating in a report on Friday. BMO Capital Markets reaffirmed an outperform rating and issued a $16.00 target price (up previously from $15.00) on shares of Pure Storage in a report on Friday. BidaskClub raised shares of Pure Storage from a sell rating to a hold rating in a report on Thursday. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $15.00 target price (up previously from $13.00) on shares of Pure Storage in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $15.61.

Pure Storage (NYSE:PSTG) traded up 19.03% during trading on Friday, hitting $14.95. The stock had a trading volume of 11,448,954 shares. Pure Storage has a 12 month low of $9.12 and a 12 month high of $15.14. The stock’s market cap is $3.13 billion. The firm has a 50 day moving average of $12.94 and a 200-day moving average of $11.75.

Pure Storage (NYSE:PSTG) last issued its earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.20. The business had revenue of $224.50 million for the quarter, compared to the consensus estimate of $217.97 million. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 45.43%. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. Equities analysts predict that Pure Storage will post ($0.28) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Pure Storage’s (PSTG) “Ourperform” Rating Reaffirmed at William Blair” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/26/pure-storages-pstg-ourperform-rating-reaffirmed-at-william-blair.html.

In other Pure Storage news, Director Michelangelo Volpi sold 35,673 shares of Pure Storage stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $13.03, for a total transaction of $464,819.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Riitters sold 10,248 shares of Pure Storage stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $12.81, for a total transaction of $131,276.88. Following the transaction, the chief financial officer now owns 227,200 shares of the company’s stock, valued at approximately $2,910,432. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,312,246 shares of company stock valued at $30,410,081. 46.58% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of Pure Storage by 0.3% in the first quarter. Wells Fargo & Company MN now owns 57,389 shares of the technology company’s stock worth $564,000 after buying an additional 150 shares during the last quarter. Fox Run Management L.L.C. boosted its position in shares of Pure Storage by 8.2% in the first quarter. Fox Run Management L.L.C. now owns 21,000 shares of the technology company’s stock worth $206,000 after buying an additional 1,600 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Pure Storage by 14.0% in the second quarter. First Trust Advisors LP now owns 15,607 shares of the technology company’s stock worth $200,000 after buying an additional 1,919 shares during the last quarter. Gradient Investments LLC boosted its position in shares of Pure Storage by 10.3% in the second quarter. Gradient Investments LLC now owns 22,710 shares of the technology company’s stock worth $291,000 after buying an additional 2,122 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Pure Storage by 38.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after buying an additional 2,284 shares during the last quarter. Institutional investors own 34.86% of the company’s stock.

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.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

Receive News & Stock Ratings for Pure Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage Inc. and related stocks with our FREE daily email newsletter.