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Chief Revenue Officer Dan Fitzsimons Sells 29,283 Shares of Pure Storage Inc (PSTG)

GuruFocus Research
·1 min read

Pure Storage Inc (NYSE:PSTG), a company specializing in data storage solutions, including hardware and software products, has reported an insider sale according to a recent SEC filing. Chief Revenue Officer Dan Fitzsimons sold 29,283 shares of the company on April 16, 2024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this SEC Filing.

Over the past year, Dan Fitzsimons has sold a total of 106,388 shares of Pure Storage Inc and has not made any purchases of the stock. This latest transaction continues a trend of insider sales at the company, with a total of 22 insider sells and no insider buys over the past year.

On the date of the insider's recent sale, shares of Pure Storage Inc were trading at $52.14, giving the company a market capitalization of $16.84 billion. The price-earnings ratio of the stock stands at 304.82, which is above the industry median of 23.22. However, it is lower than the company's historical median price-earnings ratio.

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The stock's current price-to-GF-Value ratio is 1.7, indicating that Pure Storage Inc is significantly overvalued based on its GF Value of $30.63. The GF Value is an intrinsic value estimate that considers historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.

Chief Revenue Officer Dan Fitzsimons Sells 29,283 Shares of Pure Storage Inc (PSTG)
Chief Revenue Officer Dan Fitzsimons Sells 29,283 Shares of Pure Storage Inc (PSTG)
Chief Revenue Officer Dan Fitzsimons Sells 29,283 Shares of Pure Storage Inc (PSTG)
Chief Revenue Officer Dan Fitzsimons Sells 29,283 Shares of Pure Storage Inc (PSTG)

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.