On June 7, 2024, Mallun Yen, Director at Pure Storage Inc (NYSE:PSTG), executed a sale of 4,818 shares of the company. The transaction was documented in an SEC Filing. Following this transaction, the insider now owns 35,498 shares of Pure Storage Inc.
Pure Storage Inc (NYSE:PSTG) specializes in providing enterprise data storage solutions. The company’s technology includes hardware and software products for data storage management and processing.
Over the past year, Mallun Yen has sold a total of 17,313 shares of Pure Storage Inc and has not made any purchases of the stock. This recent transaction is part of a broader trend observed over the past year, where there have been 23 insider sells and no insider buys at Pure Storage Inc.
On the date of the latest transaction, shares of Pure Storage Inc were priced at $64.78. This pricing gives the company a market cap of $21.64 billion. The price-earnings ratio stands at 237.71, which is above the industry median of 23.63.
The stock’s valuation metrics show a GF Value of $34.68, leading to a price-to-GF-Value ratio of 1.87, indicating that the stock is significantly overvalued. The GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates from analysts.
The insider trend for Pure Storage Inc suggests a cautious approach from insiders, with more selling than buying over the past year.
This insider activity and valuation data provide a snapshot of the financial landscape and insider sentiment at Pure Storage Inc.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
