Mona Chu Sells 9,091 Shares of Pure Storage (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 9,091 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total transaction of $771,916.81. Following the transaction, the chief accounting officer directly owned 107,353 shares in the company, valued at approximately $9,115,343.23. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Mona Chu also recently made the following trade(s):

• On Tuesday, September 23rd, Mona Chu sold 5,155 shares of Pure Storage stock. The shares were sold at an average price of $88.08, for a total transaction of $454,052.40.
• On Tuesday, September 2nd, Mona Chu sold 17,500 shares of Pure Storage stock. The shares were sold at an average price of $76.51, for a total transaction of $1,338,925.00.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $85.63 on Thursday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $89.10. The company’s 50-day moving average is $70.35 and its 200 day moving average is $57.55. The stock has a market capitalization of $28.14 billion, a P/E ratio of 208.85, a P/E/G ratio of 7.79 and a beta of 1.22.

Pure Storage (NYSE:PSTG) last posted its 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. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Pure Storage

Institutional investors have recently made changes to their positions in the company. Mechanics Financial Corp purchased a new stake in shares of Pure Storage during the second quarter valued at approximately $25,000. True Wealth Design LLC boosted its stake in Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after purchasing an additional 439 shares during the last quarter. SouthState Corp boosted its stake in Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after purchasing an additional 489 shares during the last quarter. REAP Financial Group LLC boosted its stake in Pure Storage by 49.0% during the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock valued at $29,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PSTG shares. Lake Street Capital upped their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Citigroup upped their target price 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. Needham & Company LLC upped their target price on shares of Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Morgan Stanley upped their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.06.

About Pure Storage

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.