Pure Storage Inc (PSTG) Short Interest Update
Pure Storage Inc (NYSE:PSTG) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 17,870,385 shares, an increase of 21.2% from the February 15th total of 14,748,383 shares. Based on an average daily volume of 3,974,986 shares, the days-to-cover ratio is currently 4.5 days. Currently, 9.8% of the company’s stock are short sold.
Shares of Pure Storage stock opened at $20.92 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.64 and a quick ratio of 3.52. The stock has a market capitalization of $5.05 billion, a P/E ratio of -29.89 and a beta of 1.71. Pure Storage has a fifty-two week low of $13.99 and a fifty-two week high of $29.14.
Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Thursday, February 28th. The technology company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.04). Pure Storage had a negative net margin of 13.12% and a negative return on equity of 23.31%. Equities research analysts anticipate that Pure Storage will post -0.54 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in PSTG. Oppenheimer Asset Management Inc. bought a new stake in Pure Storage in the fourth quarter valued at about $27,000. Sonora Investment Management LLC increased its holdings in Pure Storage by 80.2% in the fourth quarter. Sonora Investment Management LLC now owns 1,910 shares of the technology company’s stock valued at $31,000 after buying an additional 850 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Pure Storage in the fourth quarter valued at about $42,000. Penserra Capital Management LLC increased its holdings in Pure Storage by 458.9% in the fourth quarter. Penserra Capital Management LLC now owns 5,008 shares of the technology company’s stock valued at $80,000 after buying an additional 4,112 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Pure Storage by 169.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,090 shares of the technology company’s stock valued at $110,000 after buying an additional 2,570 shares during the last quarter. 74.31% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on the company. Maxim Group restated a “hold” rating and set a $21.00 price objective on shares of Pure Storage in a research note on Friday, March 1st. Zacks Investment Research cut Pure Storage from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $25.00 price target on shares of Pure Storage in a research note on Tuesday, November 20th. They noted that the move was a valuation call. Lake Street Capital cut their price target on Pure Storage to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Finally, Oppenheimer set a $26.00 price target on Pure Storage and gave the stock a “buy” rating in a research note on Monday, November 19th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Pure Storage presently has a consensus rating of “Buy” and an average price target of $25.71.
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Pure Storage Company Profile
Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.
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