Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pure Storage Inc shares valued at $1,258,000 were sold by Chu Mona on Sep 25 ’24. At $50.32 per share, Chu Mona sold 25,000 shares. The insider’s holdings dropped to 96,639 shares worth approximately $4.81 million following the completion of this transaction.
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Also, Chu Mona purchased 25,000 shares, netting a total of over 1,257,954 in proceeds.
Before that, FitzSimons Dan had sold 8,895 shares from its account. In a trade valued at $450,710, the Chief Revenue Officer traded Pure Storage Inc shares for $50.67 each. Upon closing the transaction, the insider’s holdings decreased to 8,895 shares, worth approximately $4.7 million.
As published in a research note from TD Cowen on August 29, 2024, Pure Storage Inc [PSTG] has been retained to a Buy and the price target has been revised to $70. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late August. As of August 19, 2024, Piper Sandler has initiated its “Neutral” rating for PSTG. Earlier on July 02, 2024, UBS downgraded its rating. Their new recommendation was “a Sell” for PSTG stock which previously was a “a Neutral”.
Analyzing PSTG Stock Performance
During the last five days, there has been a drop of approximately -1.37%. Over the course of the year, Pure Storage Inc shares have jumped approximately 39.54%. 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 $53.81, while a 200-day SMA reached $52.30. Nevertheless, trading volume fell to 1.8 million shares from 2.05 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 49.18, which, if violated, would cause prices to drop to 48.60. In the upper region, resistance lies at 50.51. The next price resistance is at 51.26. RSI (Relative Strength Index) is 44.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.38, which suggests the price will decrease in the coming days. Percent R is at 53.37%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
