Shares of Pure Storage Inc (NYSE:PSTG) gapped down prior to trading on Tuesday . The stock had previously closed at $20.10, but opened at $20.75. Pure Storage shares last traded at $21.28, with a volume of 79994 shares traded.

A number of analysts have commented on the company. Zacks Investment Research cut Pure Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Credit Suisse Group assumed coverage on Pure Storage in a research report on Thursday, April 11th. They issued a “neutral” rating and a $23.00 price target for the company. ValuEngine upgraded Pure Storage from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Oppenheimer set a $26.00 price objective on Pure Storage and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Maxim Group reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Pure Storage in a research note on Friday, March 1st. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Pure Storage has a consensus rating of “Buy” and a consensus target price of $26.10.

The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of -29.60 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.34 and a quick ratio of 3.25.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Thursday, February 28th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Pure Storage had a negative net margin of 13.12% and a negative return on equity of 22.64%. The firm had revenue of $422.22 million for the quarter, compared to the consensus estimate of $443.27 million. As a group, equities analysts predict that Pure Storage Inc will post -0.53 earnings per share for the current fiscal year.

In related news, CFO Timothy Riitters sold 5,210 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.92, for a total transaction of $103,783.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Dietzen sold 100,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $23.05, for a total value of $2,305,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 564,260 shares of company stock valued at $11,880,961. 10.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PSTG. Eminence Capital LP bought a new position in Pure Storage during the first quarter valued at approximately $113,599,000. William Blair Investment Management LLC boosted its stake in Pure Storage by 27.9% during the first quarter. William Blair Investment Management LLC now owns 12,650,885 shares of the technology company’s stock valued at $275,663,000 after buying an additional 2,761,026 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Pure Storage by 262.1% during the first quarter. JPMorgan Chase & Co. now owns 2,896,951 shares of the technology company’s stock valued at $63,125,000 after buying an additional 2,097,011 shares during the last quarter. Vanguard Group Inc boosted its stake in Pure Storage by 14.4% during the third quarter. Vanguard Group Inc now owns 15,371,526 shares of the technology company’s stock valued at $398,892,000 after buying an additional 1,933,591 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in Pure Storage by 60.0% during the first quarter. Blair William & Co. IL now owns 4,961,032 shares of the technology company’s stock valued at $108,101,000 after buying an additional 1,859,451 shares during the last quarter. 73.63% of the stock is owned by institutional investors.

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About Pure Storage (NYSE:PSTG)

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 and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.

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