Pure Storage Inc’s filing revealed that its Chief Accounting Officer Chu Mona unloaded Company’s shares for reported $1.06 million on Oct 07 ’24. In the deal valued at $51.50 per share,20,647 shares were sold. As a result of this transaction, Chu Mona now holds 75,992 shares worth roughly $-4.1 million.
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Then, Colgrove John sold 100,000 shares, generating $5,100,668 in total proceeds. Upon selling the shares at $51.01, the Chief Visionary Officer now owns 400,000 shares.
Before that, Chu Mona bought 20,647 shares. Pure Storage Inc shares valued at $1,063,270 were divested by the Officer at a price of $51.50 per share.
TD Cowen reiterated its Pure Storage Inc [PSTG] rating to a Buy in a research note published on August 29, 2024; the price target was $70. A number of analysts have revised their coverage, including Needham’s analysts, who remained covering the stock and in late August has reiterated a ‘”a Buy”‘ rating for it. Piper Sandler began covering PSTG with “Neutral” recommendation on August 19, 2024. UBS revised its rating on July 02, 2024. It rated PSTG as “a Sell” which previously was an “a Neutral”.
Price Performance Review of PSTG
On Monday, Pure Storage Inc [NYSE:PSTG] saw its stock jump 1.32% to $53.90. Over the last five days, the stock has gained 5.03%. Pure Storage Inc shares have risen nearly 51.15% since the year began. Nevertheless, the stocks have risen 50.14% over the past one year. While a 52-week high of $70.41 was reached on 06/18/24, a 52-week low of $31.00 was recorded on 01/02/24. SMA at 50 days reached $53.15, while 200 days put it at $52.88.
Levels Of Support And Resistance For PSTG Stock
The 24-hour chart illustrates a support level at 53.49, which if violated will result in even more drops to 53.09. On the upside, there is a resistance level at 54.45. A further resistance level may holdings at 55.01. The Relative Strength Index (RSI) on the 14-day chart is 60.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.15, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.49%. Stochastics %K at 91.30% indicates the stock is a selling.
How much short interest is there in Pure Storage Inc?
A steep rise in short interest was recorded in Pure Storage Inc stocks on 2024-09-30, growing by 1.71 million shares to a total of 9.72 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 8.01 million shares. There was a rise of 17.6%, which implies that there is a positive sentiment for the stock.
