Pure Storage’s chief revenue officer sells shares worth $441,992

Dan FitzSimons, the Chief Revenue Officer of Pure Storage, Inc. (NYSE:PSTG), executed a sale of company shares amounting to $441,992, according to a recent SEC filing. The transaction, which occurred on March 21, 2025, involved the sale of 8,895 shares at a weighted average price of $49.69 per share. Pure Storage, currently valued at $17.36 billion, has demonstrated solid performance with 11.92% revenue growth over the last twelve months, though InvestingPro analysis indicates the stock is trading above its Fair Value.

Additionally, the filing noted a separate transaction on March 20, where 22,346 shares were withheld by the company to cover tax obligations related to the vesting of equity awards, valued at $1,151,265. Following these transactions, FitzSimons holds 97,200 shares directly. According to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ stocks, Pure Storage maintains strong financials with a healthy balance sheet and positive net income.

The sale was conducted under a pre-arranged 10b5-1 trading plan, which FitzSimons adopted on April 18, 2024.

In other recent news, Pure Storage reported its fourth-quarter financial results for fiscal year 2025, exceeding analysts’ expectations with earnings per share of $0.45 and revenue of $879.8 million. This performance surpassed forecasts of $0.41 for EPS and $868.53 million for revenue. Despite these positive results, the company’s stock saw a decline in aftermarket trading. UBS analyst David Vogt raised Pure Storage’s price target to $50, maintaining a Sell rating, citing subdued demand forecasts for the upcoming quarters. Meanwhile, Piper Sandler maintained an Overweight rating with a $76 price target, acknowledging the company’s progress with major cloud service customers and better-than-expected revenue and EBIT figures.

Citi analysts adjusted Pure Storage’s price target to $77 from $80, keeping a Buy rating, despite a reported decline in product gross margins. The company attributed this margin pressure to the accelerated adoption of its E-class family and fluctuations in NAND pricing. Additionally, Pure Storage announced the release of FlashBlade//EXA, a new data storage platform designed for AI and high-performance computing workloads, set to be available in the summer of 2025. This platform aims to improve AI pipeline efficiency and data security, further positioning Pure Storage as a leader in storage solutions for demanding environments.

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