In last trading session, Pure Storage Inc (NYSE:PSTG) saw 4.27 million shares changing hands with its beta currently measuring 1.15. Company’s recent per share price level of $52.23 trading at -$0.61 or -1.15% at ring of the bell on the day assigns it a market valuation of $16.50B. That closing price of PSTG’s stock is at a discount of -11.93% from its 52-week high price of $58.46 and is indicating a premium of 57.61% from its 52-week low price of $22.14. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 4.3 million shares which gives us an average trading volume of 5.01 million if we extend that period to 3-months.
Pure Storage Inc (NYSE:PSTG) trade information
Upright in the red during last session for losing -1.15%, in the last five days PSTG remained trading in the green while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $52.23 price level, adding 1.93% to its value on the day. Pure Storage Inc’s shares saw a change of 46.47% in year-to-date performance and have moved 4.54% in past 5-day. Pure Storage Inc (NYSE:PSTG) showed a performance of 26.80% in past 30-days. Number of shares sold short was 10.44 million shares which calculate 2.7 days to cover the short interests.
Pure Storage Inc (PSTG) estimates and forecasts
Statistics highlight that Pure Storage Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 50.69% of value to its shares in past 6 months, showing an annual growth rate of 9.86% while that of industry is 26.40. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 162.50% in the current quarter and calculating 2.90% increase in the next quarter. This year revenue growth is estimated to rise 10.50% from the last financial year’s standing.
16 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $680.99 million for the same. And 16 analysts are in estimates of company making revenue of $751.48 million in the next quarter that will end on Jul 2024.
In 2024, company’s earnings growth rate is likely to be around 7.12% while estimates for its earnings growth in next 5 years are of 17.70%.
PSTG Dividends
Pure Storage Inc is more likely to be releasing its next quarterly report between May 29 and June 03 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Pure Storage Inc (NYSE:PSTG)’s Major holders
Insiders are in possession of 5.79% of company’s total shares while institution are holding 85.41 percent of that, with stock having share float percentage of 90.67%. Investors also watch the number of corporate investors in a company very closely, which is 85.41% institutions for Pure Storage Inc that are currently holding shares of the company. FMR, LLC is the top institutional holder at PSTG for having 46.78 million shares of worth $2.44 billion. And as of Dec 30, 2023, it was holding 14.80% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 31.29 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 9.90% of outstanding shares, having a total worth of $1.63 billion.
On the other hand, Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jan 30, 2024, the former fund manager was holding 14.48 million shares of worth $756.15 million or 4.58% of the total outstanding shares. The later fund manager was in possession of 9.35 million shares on Dec 30, 2023, making its stake of worth around $488.39 million in the company or a holder of 2.96% of company’s stock.
