Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pure Storage Inc shares valued at $5,732,388 were sold by Colgrove John on Oct 21 ’24. At $57.32 per share, Colgrove John sold 100,000 shares. The insider’s holdings dropped to 300,000 shares worth approximately $15.02 million following the completion of this transaction.
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Also, The Colgrove Family Charitable purchased 400,000 shares, netting a total of over 22,828,000 in proceeds.
Before that, Chu Mona had sold 20,647 shares from its account. In a trade valued at $1,063,320, the Chief Accounting Officer traded Pure Storage Inc shares for $51.50 each. Upon closing the transaction, the insider’s holdings decreased to 20,647 shares, worth approximately $3.8 million.
As published in a research note from Guggenheim on October 17, 2024, Pure Storage Inc [PSTG] has been retained to a Buy and the price target has been revised to $93. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in late August. As of August 29, 2024, Needham has reiterated its “Buy” rating for PSTG. Earlier on August 19, 2024, Piper Sandler initiated its rating. Their recommendation was “a Neutral” for PSTG stock.
Analyzing PSTG Stock Performance
During the last five days, there has been a drop of approximately -6.36%. Over the course of the year, Pure Storage Inc shares have jumped approximately 40.35%. 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 $52.02, while a 200-day SMA reached $54.02. Nevertheless, trading volume fell to 2.96 million shares from 2.22 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 49.06, which, if violated, would cause prices to drop to 48.07. In the upper region, resistance lies at 51.88. The next price resistance is at 53.70. RSI (Relative Strength Index) is 40.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.19, which suggests the price will decrease in the coming days. Percent R is at 98.14%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
