The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Pure Storage Inc shares valued at $701,100 were sold by Chu Mona on Jun 18 ’24. At $70.11 per share, Chu Mona sold 10,000 shares. The insider’s holdings dropped to 130,547 shares worth approximately $8.51 million following the completion of this transaction.
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Also, Taylor Roxanne sold 8,543 shares, netting a total of over 591,517 in proceeds. Following the sale of shares at $69.24 each, the insider now holds 14,608 shares.
Before that, Yen Mallun had sold 4,818 shares from its account. In a trade valued at $312,110, the Director traded Pure Storage Inc shares for $64.78 each. Upon closing the transaction, the insider’s holdings decreased to 4,818 shares, worth approximately $2.31 million.
As published in a research note from Morgan Stanley on June 12, 2024, Pure Storage Inc [PSTG] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $60. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in late May. As of May 30, 2024, Northland Capital has decreased its “an Outperform” rating to a “Market perform” for PSTG. Earlier on May 21, 2024, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for PSTG stock which previously was a “an Overweight”.
Analyzing PSTG Stock Performance
During the last five days, there has been a drop of approximately -1.18%. Over the course of the year, Pure Storage Inc shares have jumped approximately 82.78%. Shares of the company reached a 52-week high of $70.41 on 06/18/24 and a 52-week low of $34.32 on 01/02/24. A 50-day SMA is recorded $58.89, while a 200-day SMA reached $45.06. Nevertheless, trading volume fell to 2.84 million shares from 2.57 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 63.05, which, if violated, would cause prices to drop to 60.93. In the upper region, resistance lies at 66.51. The next price resistance is at 67.85. RSI (Relative Strength Index) is 57.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.16, which suggests the price will decrease in the coming days. Percent R is at 62.39%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
