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SANTA CLARA, CA—FitzSimons Dan, the Chief Revenue Officer of Pure Storage, Inc. (NYSE:PSTG), a company currently valued at $13.95 billion and trading at a P/E ratio of 130.55, recently sold shares of the company in a transaction dated April 21, 2025. According to InvestingPro analysis, the company maintains a "GOOD" financial health score despite recent stock price weakness. According to a filing with the Securities and Exchange Commission, Dan sold a total of 6,977 shares of Class A Common Stock at an average price of $40.91 per share, amounting to approximately $285,429.
The transaction was executed as part of a pre-established Rule 10b5-1 trading plan, which Dan adopted on January 16, 2025. The shares were sold in multiple transactions at prices ranging from $40.75 to $41.04 per share. Following this sale, Dan retains direct ownership of 90,223 shares of the company.
This divestment comes as part of routine financial planning and does not necessarily indicate any change in Dan’s confidence in Pure Storage’s business performance.
In other recent news, Pure Storage has announced the release of FlashBlade//EXA, a new data storage platform designed for AI and High-Performance Computing (HPC) workloads. This platform reportedly sets a new industry standard with more than 10 terabytes per second read performance in a single namespace. In a separate development, Pure Storage has partnered with Varonis Systems (NASDAQ:VRNS) to enhance data security and cyber resilience by integrating their technologies. This collaboration aims to improve the protection and recovery of sensitive data for their clients.
Meanwhile, UBS has raised its price target for Pure Storage to $50 while maintaining a Sell rating, citing mixed financial results and subdued demand forecasts. Piper Sandler, however, reaffirmed an Overweight rating with a $76 price target, acknowledging the company’s better-than-expected fourth-quarter performance and future potential with cloud service providers. Citi has slightly reduced its price target to $77 but retained a Buy rating, noting short-term margin pressures but expressing optimism about future growth in flash storage and subscription services.
These updates reflect the dynamic developments surrounding Pure Storage, including their strategic partnerships, product innovations, and varied analyst perspectives on financial performance and market potential.
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