AlphaQuest LLC Has $1.23 Million Stake in Pure Storage, Inc. $PSTG

AlphaQuest LLC grew its stake in Pure Storage, Inc. (NYSE:PSTG) by 1,513.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,349 shares of the technology company’s stock after buying an additional 20,026 shares during the period. AlphaQuest LLC’s holdings in Pure Storage were worth $1,229,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PSTG. William Blair Investment Management LLC raised its stake in shares of Pure Storage by 112.9% in the 2nd quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock valued at $283,687,000 after acquiring an additional 2,612,300 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted 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 worth $401,793,000 after buying an additional 1,868,782 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Pure Storage during the 1st quarter worth $38,989,000. Nuveen LLC acquired a new position in Pure Storage in the 1st quarter valued at $32,410,000. Finally, Goldman Sachs Group Inc. grew its stake in Pure Storage by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock valued at $50,377,000 after buying an additional 595,307 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In related news, CAO Mona Chu sold 9,091 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total value of $771,916.81. Following the sale, the chief accounting officer owned 107,353 shares of the company’s stock, valued at $9,115,343.23. The trade was a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ajay Singh sold 7,014 shares of the firm’s stock in a transaction dated 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 owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 743,111 shares of company stock worth $51,703,009 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Pure Storage from $81.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Bank of America raised their target price on Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Cowen reiterated a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Finally, Evercore ISI increased their price objective on Pure Storage from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Fourteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.56.

Pure Storage Trading Up 0.2%

Shares of NYSE:PSTG opened at $93.81 on Friday. The firm has a market capitalization of $30.83 billion, a PE ratio of 228.80, a PEG ratio of 8.65 and a beta of 1.22. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $96.08. The business’s 50 day moving average is $81.62 and its 200-day moving average is $62.91.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $845.78 million. During the same period last year, the business earned $0.44 earnings per share. Pure Storage’s quarterly revenue 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. On average, sell-side analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

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.