The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Pure Storage Inc shares valued at $1,229,876 were sold by Singh Ajay on Dec 31 ’24. At $61.58 per share, Singh Ajay sold 19,972 shares. The insider’s holdings dropped to 262,144 shares worth approximately $16.97 million following the completion of this transaction.
Also, Singh Ajay purchased 19,972 shares, netting a total of over 1,229,939 in proceeds.
Before that, FitzSimons Dan had sold 8,895 shares from its account. In a trade valued at $570,258, the Chief Revenue Officer traded Pure Storage Inc shares for $64.11 each. Upon closing the transaction, the insider’s holdings decreased to 8,895 shares, worth approximately $4.72 million.
As published in a research note from Piper Sandler on December 04, 2024, Pure Storage Inc [PSTG] has been rated up from a Neutral to an Overweight and the price target has been revised to $76 from $56. Analysts at Wells Fargo resumed the stock at ‘”an Overweight”‘ outlook in a report released in early December. As of December 04, 2024, TD Cowen has reiterated its “Buy” rating for PSTG. Earlier on December 04, 2024, Stifel resumed its rating. Their recommendation was “a Hold” for PSTG stock.
Analyzing PSTG Stock Performance
During the last five days, there has been a surge of approximately 2.84%. Over the course of the year, Pure Storage Inc shares have jumped approximately 5.36%. Shares of the company reached a 52-week high of $65.96 on 01/06/25 and a 52-week low of $60.62 on 01/13/25. A 50-day SMA is recorded $58.37, while a 200-day SMA reached $57.01. Nevertheless, trading volume fell to 2.35 million shares from 2.0 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 64.11, which, if violated, would cause prices to drop to 63.50. In the upper region, resistance lies at 65.50. The next price resistance is at 66.28. RSI (Relative Strength Index) is 57.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.16, which suggests the price will decrease in the coming days. Percent R is at 23.28%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
