Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Pure Storage Inc shares valued at $1,526,816 were sold by FitzSimons Dan on Apr 16 ’24. At $52.14 per share, FitzSimons Dan sold 29,283 shares. The insider’s holdings dropped to 138,105 shares worth approximately $7.16 million following the completion of this transaction.
Also, Brown Andrew William Fraser sold 20,564 shares, netting a total of over 1,075,703 in proceeds. Following the sale of shares at $52.31 each, the insider now holds 24,400 shares.
Before that, Dietzen Scott had sold 147,000 shares from its account. In a trade valued at $7,863,030, the Director traded Pure Storage Inc shares for $53.49 each. Upon closing the transaction, the insider’s holdings decreased to 147,000 shares, worth approximately $5.18 million.
As published in their initiating research note from Citigroup on March 15, 2024, Pure Storage Inc [PSTG] has been a Buy and the price target has been revised to $65. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in early March. As of February 29, 2024, TD Cowen has reiterated its “an Outperform” rating for PSTG. Earlier on February 14, 2024, Stifel downgraded its rating. Their new recommendation was “a Hold” for PSTG stock which previously was a “a Buy”.
Analyzing PSTG Stock Performance
During the last five days, there has been a drop of approximately -5.76%. Over the course of the year, Pure Storage Inc shares have jumped approximately 45.32%. Shares of the company reached a 52-week high of $58.46 on 03/08/24 and a 52-week low of $34.32 on 01/02/24. A 50-day SMA is recorded $49.76, while a 200-day SMA reached $39.87. Nevertheless, trading volume fell to 2.11 million shares from 3.65 million shares the previous day.
Support And Resistance Levels for Pure Storage Inc (PSTG)
According to the 24-hour chart, there is a support level at 51.09, which, if violated, would cause prices to drop to 50.35. In the upper region, resistance lies at 52.67. The next price resistance is at 53.51. RSI (Relative Strength Index) is 49.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.48, which suggests the price will decrease in the coming days. Percent R is at 68.27%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
