During the last session, Pure Storage Inc (NYSE:PSTG)’s traded shares were 2.85 million, with the beta value of the company hitting 1.15. At the end of the trading day, the stock’s price was $53.79, reflecting an intraday gain of 2.24% or $1.18. The 52-week high for the PSTG share is $58.46, that puts it down -8.68 from that peak though still a striking 58.84% gain since the share price plummeted to a 52-week low of $22.14. The company’s market capitalization is $17.48B, and the average intraday trading volume over the past 10 days was 2.97 million shares, and the average trade volume was 4.06 million shares over the past three months.
Pure Storage Inc (NYSE:PSTG) trade information
Pure Storage Inc (PSTG) registered a 2.24% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.24% in intraday trading to $53.79, hitting a weekly high. The stock’s 5-day price performance is 3.46%, and it has moved by -5.52% in 30 days. Based on these gigs, the overall price performance for the year is 109.46%. The short interest in Pure Storage Inc (NYSE:PSTG) is 8.59 million shares and it means that shorts have 1.67 day(s) to cover.
Pure Storage Inc (PSTG) estimates and forecasts
Statistics show that Pure Storage Inc has underperformed its competitors in share price, compared to the industry in which it operates. Pure Storage Inc (PSTG) shares have gone up 56.41% during the last six months, with a year-to-date growth rate less than the industry average at 9.15% against 25.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 162.50% this quarter and then jump 2.90% in the quarter after that. In the rating firms’ projections, revenue will increase 10.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $680.99 million as predicted by 16 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to $751.48 million by the end of Jul 2024.
While earnings are projected to return 7.12% in 2024, the next five years will return 17.70% per annum.
PSTG Dividends
Pure Storage Inc is due to release its next quarterly earnings between May 29 and June 03. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Pure Storage Inc (NYSE:PSTG)’s Major holders
Pure Storage Inc insiders own 5.72% of total outstanding shares while institutional holders control 85.45%, with the float percentage being 90.64%. FMR, LLC is the largest shareholder of the company, while 658 institutions own stock in it. As of Jun 29, 2023, the company held over 46.13 million shares (or 14.79% of all shares), a total value of $1.7 billion in shares.
The next largest institutional holding, with 31.15 million shares, is of Vanguard Group Inc’s that is approximately 9.99% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $1.15 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Pure Storage Inc (PSTG) shares are Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund. Data provided on Aug 30, 2023 indicates that Fidelity Growth Company Fund owns about 13.94 million shares. This amounts to just over 4.47 percent of the company’s overall shares, with a $510.01 million market value. The same data shows that the other fund manager holds slightly less at 9.18 million, or about 2.94% of the stock, which is worth about $338.18 million.
