Greenwood Gearhart Inc. Takes Position in Pure Storage, Inc. $PSTG

Greenwood Gearhart Inc. purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) during the second quarter, Holdings Channel.com reports. The firm purchased 3,650 shares of the technology company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JB Capital LLC increased its holdings in shares of Pure Storage by 6.2% in the 2nd quarter. JB Capital LLC now owns 36,127 shares of the technology company’s stock valued at $2,080,000 after acquiring an additional 2,124 shares during the period. Blue Trust Inc. grew its stake in Pure Storage by 25.2% during the 2nd quarter. Blue Trust Inc. now owns 1,596 shares of the technology company’s stock worth $92,000 after buying an additional 321 shares during the last quarter. Ramirez Asset Management Inc. grew its stake in Pure Storage by 40.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after buying an additional 200 shares during the last quarter. IFP Advisors Inc grew its stake in Pure Storage by 9.8% during the 2nd quarter. IFP Advisors Inc now owns 7,806 shares of the technology company’s stock worth $449,000 after buying an additional 696 shares during the last quarter. Finally, Callan Family Office LLC purchased a new position in Pure Storage during the 2nd quarter worth $259,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pure Storage

In other news, insider Ajay Singh sold 7,014 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the sale, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mona Chu sold 9,091 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the completion of the sale, the chief accounting officer owned 107,353 shares in the company, valued at $9,115,343.23. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 643,111 shares of company stock valued at $42,454,009. 5.60% of the stock is owned by insiders.

Pure Storage Price Performance

PSTG stock opened at $89.43 on Friday. The firm’s fifty day simple moving average is $74.81 and its 200-day simple moving average is $59.41. The company has a market capitalization of $29.39 billion, a P/E ratio of 218.12, a price-to-earnings-growth ratio of 8.70 and a beta of 1.22. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $94.72.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, beating 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 the consensus estimate of $845.78 million. During the same period in the prior year, the firm 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. As a group, sell-side analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PSTG shares. UBS Group boosted their target price on Pure Storage from $50.00 to $55.00 and gave the stock a “sell” rating in a research note on Thursday, August 28th. Lake Street Capital boosted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Weiss Ratings restated a “hold (c)” rating on shares of Pure Storage in a research note on Wednesday. Citigroup boosted their target price on Pure Storage from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.