Moody Aldrich Partners LLC Buys New Shares in Pure Storage, Inc. $PSTG

Moody Aldrich Partners LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the second quarter, Holdings Channel reports. The fund bought 3,537 shares of the technology company’s stock, valued at approximately $204,000.

Other institutional investors also recently modified their holdings of the company. Mechanics Financial Corp bought a new stake in shares of Pure Storage during the 2nd quarter worth $25,000. REAP Financial Group LLC lifted its holdings in shares of Pure Storage by 49.0% during the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Pure Storage in the 1st quarter valued at $38,000. Nisa Investment Advisors LLC increased its stake in Pure Storage by 35.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock worth $40,000 after purchasing an additional 239 shares in the last quarter. Finally, Ramirez Asset Management Inc. raised its holdings 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 period. Institutional investors own 83.42% of the company’s stock.

Insider Activity at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,051 shares of Pure Storage stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total transaction of $528,978.42. Following the completion of the sale, the executive directly owned 62,759 shares in the company, valued at $5,486,391.78. The trade was a 8.79% decrease in their position. The sale 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 stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.93, for a total value of $230,790.00. Following the completion of the transaction, the director owned 16,343 shares in the company, valued at $1,257,266.99. This represents a 15.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 343,111 shares of company stock worth $27,634,439. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim raised their target price on shares of Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Morgan Stanley raised their price objective on shares of Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 28th. Raymond James Financial boosted their target price on shares of Pure Storage from $88.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Bank of America increased 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. Finally, Lake Street Capital lifted their price target on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and an average price target of $88.56.

Pure Storage Stock Up 1.8%

Shares of NYSE:PSTG opened at $98.77 on Friday. The firm has a fifty day moving average of $85.59 and a two-hundred day moving average of $64.79. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $99.02. The firm has a market capitalization of $32.46 billion, a P/E ratio of 240.90, a price-to-earnings-growth ratio of 8.99 and a beta of 1.22.

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