Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pure Storage Inc shares valued at $4,957,553 were sold by Colgrove John on Nov 19 ’24. At $49.58 per share, Colgrove John sold 100,000 shares. The insider’s holdings dropped to 100,000 shares worth approximately $5.29 million following the completion of this transaction.
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Also, Colgrove John sold 100,000 shares, netting a total of over 5,000,929 in proceeds. Following the sale of shares at $50.01 each, the insider now holds 200,000 shares.
Before that, Colgrove John had sold 100,000 shares from its account. In a trade valued at $5,732,388, the Chief Visionary Officer traded Pure Storage Inc shares for $57.32 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $15.87 million.
As published in their initiating research note from Cleveland Research on November 15, 2024, Pure Storage Inc [PSTG] has been a Neutral. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid November. As of October 17, 2024, Guggenheim has reiterated its “Buy” rating for PSTG. Earlier on August 29, 2024, TD Cowen resumed its rating. Their recommendation was “a Buy” for PSTG stock.
Analyzing PSTG Stock Performance
During the last five days, there has been a surge of approximately 6.25%. Over the course of the year, Pure Storage Inc shares have jumped approximately 48.32%. 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 $51.95, while a 200-day SMA reached $54.94. Nevertheless, trading volume fell to 2.14 million shares from 4.36 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 51.38, which, if violated, would cause prices to drop to 49.88. In the upper region, resistance lies at 54.44. The next price resistance is at 56.00. RSI (Relative Strength Index) is 53.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.51, which suggests the price will increase in the coming days. Percent R is at 19.76%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
