4,578 Shares in Pure Storage, Inc. $PSTG Bought by Forum Financial Management LP

Forum Financial Management LP bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the second quarter, Holdings Channel.com reports. The fund bought 4,578 shares of the technology company’s stock, valued at approximately $264,000.

A number of other hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its stake in Pure Storage by 25.9% during 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. William Blair Investment Management LLC increased its stake in Pure Storage by 112.9% in the second quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock valued at $283,687,000 after purchasing an additional 2,612,300 shares in the last quarter. Blair William & Co. IL increased its stake in Pure Storage by 2.8% in the first quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company’s stock valued at $156,780,000 after purchasing an additional 96,731 shares in the last quarter. Northern Trust Corp increased its stake in Pure Storage by 0.8% in the first quarter. Northern Trust Corp now owns 2,911,591 shares of the technology company’s stock valued at $128,896,000 after purchasing an additional 23,531 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Pure Storage by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,537,264 shares of the technology company’s stock valued at $112,325,000 after purchasing an additional 47,584 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Activity

In related news, insider Ajay Singh sold 7,014 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total transaction of $602,151.90. Following the transaction, the insider directly owned 229,307 shares in the company, valued at approximately $19,686,005.95. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Colgrove sold 198,749 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the transaction, the insider owned 500,000 shares in the company, valued at approximately $30,160,000. This trade represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 743,111 shares of company stock valued at $51,703,009 in the last three months. 5.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PSTG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pure Storage in a research note on Saturday. Wedbush lifted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Bank of America lifted their price target on shares of Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Cowen reaffirmed a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Finally, Raymond James Financial lifted their price objective on shares of Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.56.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $93.81 on Monday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $96.08. The stock has a market capitalization of $30.83 billion, a P/E ratio of 228.80, a P/E/G ratio of 8.65 and a beta of 1.22. The company has a 50-day moving average price of $81.62 and a 200-day moving average price of $63.04.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping 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 analysts’ expectations of $845.78 million. During the same period in the previous year, the company earned $0.44 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal 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.