PSTG - Insider Transaction: Fraser William Andrew Brown Sells $1.08M Worth Of Pure Storage Shares | Benzinga
On April 17, a recent SEC filing unveiled that Fraser William Andrew Brown, Director at Pure Storage (NYSE:PSTG) made an insider sell.
What Happened: Brown's decision to sell 20,564 shares of Pure Storage was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday. The total value of the sale is $1,075,702.
At Thursday morning, Pure Storage shares are down by 0.04%, trading at $52.3.
Unveiling the Story Behind Pure Storage
Pure Storage Inc is a U.S.-based company that provides an enterprise data storage platform that transforms business through a dramatic increase in performance and reduction in complexity and costs. It generates revenue from two sources: product revenue which includes the sale of integrated storage hardware and embedded operating system software and; subscription services revenue which includes Evergreen Storage subscriptions, a unified subscription which includes Pure as-a-Service, and Cloud Block Store, and Portworx. Subscription services revenue also includes professional services offerings such as installation and implementation consulting services.
Breaking Down Pure Storage's Financial Performance
Revenue Challenges: Pure Storage's revenue growth over 3 months faced difficulties. As of 31 January, 2024, the company experienced a decline of approximately -2.52%. This indicates a decrease in top-line earnings. When compared ...