Pure Storage Inc’s filing revealed that its Chief Product Officer Singh Ajay unloaded Company’s shares for reported $2.01 million on Apr 05 ’24. In the deal valued at $53.54 per share,37,588 shares were sold. As a result of this transaction, Singh Ajay now holds 380,834 shares worth roughly $19.92 million.
Then, Pure Storage, Inc. sold 7,500 shares, generating $396,000 in total proceeds. Upon selling the shares at $52.80, the Director now owns 28,896 shares.
Before that, Dietzen Scott sold 272,541 shares. Pure Storage Inc shares valued at $14,535,749 were divested by the Director at a price of $53.33 per share. As a result of the transaction, Dietzen Scott now holds 645,971 shares, worth roughly $33.78 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 -2.11% to $52.30. Over the last five days, the stock has lost -2.70%. Pure Storage Inc shares have risen nearly 46.66% since the year began. Nevertheless, the stocks have risen 100.15% 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 $49.13, while 200 days put it at $39.63. A total of 3.09 million shares were traded, compared to the trading of 2.71 million shares in the previous session.
Levels Of Support And Resistance For PSTG Stock
The 24-hour chart illustrates a support level at 51.61, which if violated will result in even more drops to 50.92. On the upside, there is a resistance level at 53.64. A further resistance level may holdings at 54.98. The Relative Strength Index (RSI) on the 14-day chart is 51.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.25%. Stochastics %K at 68.34% indicates the stock is a holding.
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.
