Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pure Storage Inc shares valued at $5,950,000 were sold by Colgrove John on Jul 18 ’24. At $59.50 per share, Colgrove John sold 100,000 shares. The insider’s holdings dropped to 900,000 shares worth approximately $51.68 million following the completion of this transaction.
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Also, Krysler P. Kevan sold 14,296 shares, netting a total of over 911,942 in proceeds. Following the sale of shares at $63.79 each, the insider now holds 518,623 shares.
Before that, Chu Mona had sold 10,000 shares from its account. In a trade valued at $701,100, the Chief Accounting Officer traded Pure Storage Inc shares for $70.11 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $7.5 million.
As published in a research note from UBS on July 02, 2024, Pure Storage Inc [PSTG] has been rated down from a Neutral to a Sell and the price target has been revised to $47 from $44. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid June. As of May 30, 2024, TD Cowen has reiterated its “Buy” rating for PSTG. Earlier on May 30, 2024, Northland Capital downgraded its rating. Their new recommendation was “a Market perform” for PSTG stock which previously was a “an Outperform”.
Analyzing PSTG Stock Performance
During the last five days, there has been a drop of approximately -3.90%. Over the course of the year, Pure Storage Inc shares have jumped approximately 61.02%. 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 $63.01, while a 200-day SMA reached $47.69. Nevertheless, trading volume fell to 3.11 million shares from 2.58 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 55.91, which, if violated, would cause prices to drop to 54.40. In the upper region, resistance lies at 58.77. The next price resistance is at 60.12. RSI (Relative Strength Index) is 35.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.62, which suggests the price will decrease in the coming days. Percent R is at 86.74%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
