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Keeping an Eye on Pure Storage Inc (PSTG) After Insider Trading Activity

Pure Storage Inc’s recent filing unveils that its Chief Financial Officer Krysler P. Kevan unloaded Company’s shares for reported $0.81 million on Apr 17 ’24. In the deal valued at $52.80 per share,15,286 shares were sold. As a result of this transaction, Krysler P. Kevan now holds 507,824 shares worth roughly $27.59 million.

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Then, FitzSimons Dan sold 29,283 shares, generating $1,526,816 in total proceeds. Upon selling the shares at $52.14, the Chief Revenue Officer now owns 138,105 shares.

Before that, Brown Andrew William Fraser sold 20,564 shares. Pure Storage Inc shares valued at $1,075,703 were divested by the Director at a price of $52.31 per share. As a result of the transaction, Brown Andrew William Fraser now holds 24,400 shares, worth roughly $1.33 million.

Raymond James downgraded its Pure Storage Inc [PSTG] rating to an Outperform from a a Strong buy in a research note published on April 19, 2024; the price target was increased to $63 from $52. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in mid March with a ‘”a Buy”‘ rating. Needham began covering PSTG with “Buy” recommendation on March 06, 2024. TD Cowen maintained its rating on February 29, 2024. It rated PSTG as “an Outperform”.

Price Performance Review of PSTG

On Monday, Pure Storage Inc [NYSE:PSTG] saw its stock fall -0.15% to $54.33. Over the last five days, the stock has gained 0.70%. Pure Storage Inc shares have risen nearly 52.36% since the year began. Nevertheless, the stocks have risen 136.84% over the past one year. While a 52-week high of $58.46 was reached on 03/08/24, a 52-week low of $22.64 was recorded on 01/02/24. SMA at 50 days reached $52.67, while 200 days put it at $41.08. A total of 1.88 million shares were traded, compared to the trading of 1.45 million shares in the previous session.

Levels Of Support And Resistance For PSTG Stock

The 24-hour chart illustrates a support level at 53.88, which if violated will result in even more drops to 53.44. On the upside, there is a resistance level at 54.80. A further resistance level may holdings at 55.28. The Relative Strength Index (RSI) on the 14-day chart is 58.09, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.72, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.27%. Stochastics %K at 88.34% indicates the stock is a selling.

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