Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pure Storage Inc shares valued at $1,063,320 were sold by Chu Mona on Oct 07 ’24. At $51.50 per share, Chu Mona sold 20,647 shares. The insider’s holdings dropped to 75,992 shares worth approximately $4.03 million following the completion of this transaction.
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Also, Colgrove John sold 100,000 shares, netting a total of over 5,100,668 in proceeds. Following the sale of shares at $51.01 each, the insider now holds 400,000 shares.
Before that, Chu Mona had added 20,647 shares to its account. In a trade valued at $1,063,270, the Officer bought Pure Storage Inc shares for $51.50 each.
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 surge of approximately 6.69%. Over the course of the year, Pure Storage Inc shares have jumped approximately 48.88%. 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 $53.23, while a 200-day SMA reached $52.70. Nevertheless, trading volume fell to 1.7 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 52.41, which, if violated, would cause prices to drop to 51.74. In the upper region, resistance lies at 53.52. The next price resistance is at 53.95. RSI (Relative Strength Index) is 57.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.18, which suggests the price will increase in the coming days. Percent R is at 4.28%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
