Pure Storage Inc’s filing revealed that its Director Dietzen Scott unloaded Company’s shares for reported $14.54 million on Apr 04 ’24. In the deal valued at $53.33 per share,272,541 shares were sold. As a result of this transaction, Dietzen Scott now holds 645,971 shares worth roughly $34.72 million.
Then, Taylor Roxanne sold 36,860 shares, generating $1,981,594 in total proceeds. Upon selling the shares at $53.76, the Director now owns 18,883 shares.
Before that, FitzSimons Dan sold 36,437 shares. Pure Storage Inc shares valued at $1,960,311 were divested by the Chief Revenue Officer at a price of $53.80 per share. As a result of the transaction, FitzSimons Dan now holds 90,559 shares, worth roughly $4.87 million.
Citigroup initiated its Pure Storage Inc [PSTG] rating to a Buy in a research note published on March 15, 2024; the price target was $65. A number of analysts have revised their coverage, including Needham’s analysts, who began to cover the stock in early March with a ‘”a Buy”‘ rating. TD Cowen also remained covering PSTG and reiterated its “an Outperform” recommendation on February 29, 2024. Stifel revised its rating on February 14, 2024. It rated PSTG as “a Hold” which previously was an “a Buy”.
Price Performance Review of PSTG
On Monday, Pure Storage Inc [NYSE:PSTG] saw its stock fall -0.07% to $53.75. Over the last five days, the stock has gained 3.25%. Pure Storage Inc shares have risen nearly 50.73% since the year began. Nevertheless, the stocks have risen 112.28% over the past one year. While a 52-week high of $58.46 was reached on 03/08/24, a 52-week low of $22.14 was recorded on 01/02/24. SMA at 50 days reached $47.88, while 200 days put it at $39.20. A total of 2.06 million shares were traded, compared to the trading of 3.64 million shares in the previous session.
Levels Of Support And Resistance For PSTG Stock
The 24-hour chart illustrates a support level at 53.22, which if violated will result in even more drops to 52.69. On the upside, there is a resistance level at 54.37. A further resistance level may holdings at 54.99. The Relative Strength Index (RSI) on the 14-day chart is 60.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 20.07%. Stochastics %K at 73.90% indicates the stock is a holding.
How much short interest is there in Pure Storage Inc?
A steep rise in short interest was recorded in Pure Storage Inc stocks on Mar 15, 2024, dropping by -1.1 million shares to a total of 8.59 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 9.69 million shares. There was a decline of -12.81%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.34% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.67.
The most recent change occurred on December 07, 2023 when Guggenheim began covering the stock and recommended ‘”a Buy”‘ rating along with a $48 price target.
