Pure Storage, Inc. $PSTG Shares Sold by Private Trust Co. NA

Private Trust Co. NA cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 27.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 472 shares of the technology company’s stock after selling 181 shares during the period. Private Trust Co. NA’s holdings in Pure Storage were worth $27,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mechanics Financial Corp acquired a new position in shares of Pure Storage in the 2nd quarter valued at about $25,000. REAP Financial Group LLC boosted its holdings in shares of Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after buying an additional 201 shares during the period. Ramirez Asset Management Inc. boosted its holdings in shares of Pure Storage by 40.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after buying an additional 200 shares during the period. American National Bank & Trust acquired a new position in shares of Pure Storage in the 2nd quarter valued at about $45,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Pure Storage in the 1st quarter valued at about $38,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $92.49, for a total transaction of $9,249,000.00. Following the sale, the insider directly owned 200,000 shares in the company, valued at approximately $18,498,000. The trade was a 33.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne Taylor sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the sale, the director owned 16,343 shares in the company, valued at $1,257,266.99. This trade represents a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 743,111 shares of company stock worth $51,703,009 in the last three months. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PSTG shares. Lake Street Capital lifted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Barclays lifted their price objective on shares of Pure Storage from $57.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, August 29th. Guggenheim lifted their price objective on shares of Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Cowen reiterated a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.56.

Pure Storage Trading Up 0.2%

PSTG stock opened at $93.81 on Friday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $96.08. The company has a market capitalization of $30.83 billion, a price-to-earnings ratio of 228.80, a price-to-earnings-growth ratio of 8.63 and a beta of 1.22. The firm’s 50-day moving average is $81.62 and its two-hundred day moving average is $62.75.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. During the same period in the previous year, the firm earned $0.44 EPS. Pure Storage’s revenue 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. On average, equities research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.