Pure Storage (NYSE:PSTG) Insider Sells $602,151.90 in Stock

Pure Storage, Inc. (NYSE:PSTG) insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the transaction, the insider directly owned 229,307 shares in the company, valued at $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ajay Singh also recently made the following trade(s):

• On Wednesday, July 2nd, Ajay Singh sold 22,601 shares of Pure Storage stock. The stock was sold at an average price of $55.45, for a total transaction of $1,253,225.45.

Pure Storage Stock Performance

Pure Storage stock opened at $82.46 on Monday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $89.10. The stock has a market cap of $27.10 billion, a PE ratio of 201.13, a price-to-earnings-growth ratio of 7.65 and a beta of 1.20. The firm’s 50-day simple moving average is $68.71 and its 200 day simple moving average is $56.94.

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

Institutional Trading of Pure Storage

Hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC raised its position in shares of Pure Storage by 22.6% in the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock valued at $5,240,000 after purchasing an additional 21,812 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock valued at $12,209,000 after purchasing an additional 32,611 shares during the period. Crumly & Associates Inc. bought a new stake in shares of Pure Storage in the second quarter valued at approximately $242,000. Michael S. Ryan Inc. bought a new stake in shares of Pure Storage in the second quarter valued at approximately $254,000. Finally, D.A. Davidson & CO. raised its position in shares of Pure Storage by 7.7% in the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company’s stock valued at $310,000 after purchasing an additional 500 shares during the period. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PSTG shares. Northland Securities boosted their price target on shares of Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Wells Fargo & Company boosted their price target on shares of Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley boosted their price target on shares of Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. Citigroup lifted their price objective on shares of Pure Storage from $70.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Evercore ISI lifted their price objective on shares of Pure Storage from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.06.

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.