Pure Storage, Inc. $PSTG Shares Sold by Sara Bay Financial

Sara Bay Financial cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 208,398 shares of the technology company’s stock after selling 6,221 shares during the period. Pure Storage comprises approximately 4.3% of Sara Bay Financial’s investment portfolio, making the stock its 6th biggest position. Sara Bay Financial’s holdings in Pure Storage were worth $12,000,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock worth $29,000 after buying an additional 233 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in Pure Storage by 5,233.3% in the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock valued at $35,000 after purchasing an additional 785 shares during the period. TruNorth Capital Management LLC acquired a new stake in Pure Storage in the first quarter valued at $38,000. Nisa Investment Advisors LLC increased its holdings in Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Finally, Compass Financial Services Inc increased its holdings in Pure Storage by 120.9% in the first quarter. Compass Financial Services Inc now owns 1,027 shares of the technology company’s stock valued at $45,000 after purchasing an additional 562 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Trading Up 0.6%

Shares of Pure Storage stock opened at $88.38 on Wednesday. The business has a 50-day moving average price of $67.10 and a two-hundred day moving average price of $56.15. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $89.10. The company has a market cap of $29.04 billion, a P/E ratio of 215.55, a PEG ratio of 8.16 and a beta of 1.20.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSTG. Piper Sandler increased their price objective on Pure Storage from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Lake Street Capital increased their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Northland Securities increased their price objective on Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Finally, Needham & Company LLC increased their price objective on Pure Storage from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.39.

Insider Buying and Selling

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $87.33, for a total value of $8,733,000.00. Following the completion of the sale, the insider directly owned 300,000 shares in the company, valued at $26,199,000. This trade represents a 25.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mona Chu sold 5,155 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $88.08, for a total value of $454,052.40. Following the completion of the sale, the chief accounting officer owned 116,444 shares of the company’s stock, valued at approximately $10,256,387.52. This represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 656,566 shares of company stock worth $42,724,053 over the last 90 days. 5.60% of the stock is owned by company insiders.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.