Pure Storage Reports 4Q & Fiscal Year
- Author: Zachary Reyes Mar 03, 2017,
Mar 03, 2017, 17:58
Pure Storage (NYSE:PSTG) had its stock price target reduced to $15.00 by Needham in a report released 3/2/2017. Vetr raised shares of Pure Storage from a "buy" rating to a "strong-buy" rating and set a $13.41 price target on the stock in a research report on Thursday, February 16th. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Pure Storage by 88.7% in the fourth quarter.
Other hedge funds have also made changes to their positions in the company. This rating was issued on 1/05/17. Firsthand Capital Management Inc. increased its stake in shares of Pure Storage by 714.3% in the second quarter.
David Hatfield, Pure Storage president, said during Wednesday's earnings conference call that Pure Storage planned to add synchronous replication and enhanced cloud data protection to the company's product line, including the FlashArray, the new FlashBlade all-flash array for unstructured data, and the FlashStack converged infrastructure solution done in conjunction with its compute and networking partner Cisco Systems. Two Sigma Advisers LP increased its stake in Pure Storage by 27.0% in the third quarter.
In other news, CFO Timothy Riitters sold 3,449 shares of the business's stock in a transaction that occurred on Thursday, December 22nd. Susquehanna Bancshares Inc set a $13.00 price target on Pure Storage and gave the company a hold rating in a research report on Thursday, December 1st. 6,192,569 shares of the company traded hands. The stock's market cap is $2.26 billion. The correct version of this story can be accessed at https://www.com-unik.info/2017/03/02/robert-w-baird-reaffirms-neutral-rating-for-pure-storage-inc-pstg.html. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -2.1% where SMA50 and SMA200 are -2.83% and -8.36% respectively. Recently, analysts have updated the overall rating to 2.2. The year ago sales the company reported in the same quarter is 139.95 Million. Pure Storage has a consensus rating of "Buy" and an average target price of $16.44.
In the last Quarter, Pure Storage, Inc. The highest and lowest price target given by the brokerage firms to the equity are $35 and $18, respectively.
The 22 analysts offering 12-month price forecasts for Pure Storage Inc have a median target of 17.00, with a high estimate of 21.00 and a low estimate of 12.00. (NYSE:PSTG)-5 analysts issued Strong buy for the stock, 11 analysts have given a Buy rating, 9 think it's a HOLD, 0 reported it as Underperform, while 0 analyst issued a Sell rating. The shares were sold at an average price of $12.03, for a total value of $3,019,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Amarin Corporation plc (ADR) (NASDAQ:AMRN) declined -2.35% to $3.32. The stock was sold at an average price of $11.94, for a total transaction of $59,700.00. Following the transaction, the Director is left with a stake of 4,629,305 shares, now valued at $52450026. The disclosure for this sale can be found here.