Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pure Storage Inc shares valued at $807,101 were sold by Krysler P. Kevan on Apr 17 ’24. At $52.80 per share, Krysler P. Kevan sold 15,286 shares. The insider’s holdings dropped to 507,824 shares worth approximately $26.52 million following the completion of this transaction.
Also, FitzSimons Dan sold 29,283 shares, netting a total of over 1,526,816 in proceeds. Following the sale of shares at $52.14 each, the insider now holds 138,105 shares.
Before that, Brown Andrew William Fraser had sold 20,564 shares from its account. In a trade valued at $1,075,703, the Director traded Pure Storage Inc shares for $52.31 each. Upon closing the transaction, the insider’s holdings decreased to 20,564 shares, worth approximately $1.27 million.
As published in a research note from Raymond James on April 19, 2024, Pure Storage Inc [PSTG] has been rated down from a Strong buy to an Outperform and the price target has been revised to $63 from $52. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of March 06, 2024, Needham has initiated its “Buy” rating for PSTG. Earlier on February 29, 2024, TD Cowen resumed its rating. Their recommendation was “an Outperform” for PSTG stock.
Analyzing PSTG Stock Performance
During the last five days, there has been a surge of approximately 0.77%. Over the course of the year, Pure Storage Inc shares have jumped approximately 46.44%. 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 $50.48, while a 200-day SMA reached $40.20. Nevertheless, trading volume fell to 2.81 million shares from 2.08 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 50.34, which, if violated, would cause prices to drop to 48.45. In the upper region, resistance lies at 53.26. The next price resistance is at 54.29. RSI (Relative Strength Index) is 51.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.76, which suggests the price will decrease in the coming days. Percent R is at 44.09%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
