Insiders have been unloading their shares of software-defined data storage solutions provider Pure Storage (NYSE:PSTG), and the stock’s price has declined 13.1% year-to-date. However, given the robust investor optimism surrounding the industry, and PSTG’s stable revenue and earnings growth projections, is the stock an attractive investment bet now? Read more to find out.Technology and data storage solutions provider, Pure Storage, Inc. (PSTG), which is based in Mountain View, Calif., delivers software-defined data storage solutions. The stock has gained 14.1% over the past year and 7.7% over the past five days.
However, company insiders have lately been selling shares of PSTG. Approximately 430,380 shares have been sold by two directors so far this year, and the stock price has slumped 13.1% year-to-date.
PSTG is currently trading below its 50-day and 200-day moving averages of $19.24 and $21.32, signaling a downtrend.