KLP Kapitalforvaltning AS Has $6.18 Million Stock Holdings in Pure Storage, Inc. $PSTG

KLP Kapitalforvaltning AS grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 7.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 107,300 shares of the technology company’s stock after buying an additional 7,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in Pure Storage were worth $6,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PSTG. T. Rowe Price Investment Management Inc. increased its stake in shares of Pure Storage by 25.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock valued at $401,793,000 after buying an additional 1,868,782 shares during the period. Woodline Partners LP acquired a new stake in shares of Pure Storage in the first quarter valued at about $38,989,000. Nuveen LLC acquired a new stake in shares of Pure Storage in the first quarter valued at about $32,410,000. Goldman Sachs Group Inc. grew its stake in Pure Storage by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock worth $50,377,000 after purchasing an additional 595,307 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Pure Storage during the first quarter worth approximately $24,462,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,014 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the transaction, the insider owned 229,307 shares in the company, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total value of $528,978.42. Following the completion of the transaction, the executive owned 62,759 shares in the company, valued at $5,486,391.78. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 643,111 shares of company stock worth $42,454,009 in the last three months. Insiders own 5.60% of the company’s stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $89.43 on Friday. The business’s 50 day simple moving average is $74.81 and its two-hundred day simple moving average is $59.41. The firm has a market cap of $29.39 billion, a P/E ratio of 218.12, a PEG ratio of 8.70 and a beta of 1.22. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $94.72.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Bank of America raised their target price on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Citigroup raised 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. UBS Group raised 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. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Finally, Needham & Company LLC raised their target price on Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. 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’s stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.06.

Pure Storage 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.