Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pure Storage Inc shares valued at $5,000,929 were sold by Colgrove John on Nov 04 ’24. At $50.01 per share, Colgrove John sold 100,000 shares. The insider’s holdings dropped to 200,000 shares worth approximately $9.97 million following the completion of this transaction.
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Also, Colgrove John sold 100,000 shares, netting a total of over 5,732,388 in proceeds. Following the sale of shares at $57.32 each, the insider now holds 300,000 shares.
Before that, The Colgrove Family Charitable had added 400,000 shares to its account. In a trade valued at $22,828,000, the Director bought Pure Storage Inc shares for $57.07 each.
As published in their initiating research note from Oppenheimer on November 13, 2024, Pure Storage Inc [PSTG] has been an Outperform and the price target has been revised to $70. Analysts at Guggenheim resumed the stock at ‘”a Buy”‘ outlook in a report released in mid October. As of August 29, 2024, TD Cowen has reiterated its “Buy” rating for PSTG. Earlier on August 29, 2024, Needham resumed its rating. Their recommendation was “a Buy” for PSTG stock.
Analyzing PSTG Stock Performance
During the last five days, there has been a drop of approximately -7.60%. Over the course of the year, Pure Storage Inc shares have jumped approximately 39.74%. 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 $51.36, while a 200-day SMA reached $54.56. Nevertheless, trading volume fell to 1.97 million shares from 5.34 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 49.14, which, if violated, would cause prices to drop to 48.45. In the upper region, resistance lies at 50.37. The next price resistance is at 50.91. RSI (Relative Strength Index) is 41.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.04, which suggests the price will decrease in the coming days. Percent R is at 53.24%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
