Insider Selling: Pure Storage (NYSE:PSTG) CRO Sells 6,051 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) CRO Dan Fitzsimons sold 6,051 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the sale, the executive owned 62,759 shares of the company’s stock, valued at $5,486,391.78. This trade represents a 8.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Pure Storage Trading Down 1.7%

Pure Storage stock opened at $83.41 on Friday. The firm has a market capitalization of $27.41 billion, a price-to-earnings ratio of 203.45, a price-to-earnings-growth ratio of 7.88 and a beta of 1.20. The firm’s fifty day moving average price is $68.22 and its two-hundred day moving average price is $56.59. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $89.10.

Pure Storage (NYSE:PSTG) last posted 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 net margin of 4.15% and a return on equity of 11.34%. The company had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter 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, research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PSTG shares. Guggenheim restated a “buy” rating and issued a $93.00 target price on shares of Pure Storage in a report on Thursday, August 28th. JPMorgan Chase & Co. raised their price objective on Pure Storage from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Barclays upped their target price on shares of Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. Wedbush raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, Morgan Stanley boosted their price target on shares of Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Pure Storage has an average rating of “Moderate Buy” and an average price target of $78.17.

Institutional Investors Weigh In On Pure Storage

A number of hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its position in Pure Storage by 34.7% during the second quarter. Osaic Holdings Inc. now owns 68,307 shares of the technology company’s stock valued at $3,837,000 after buying an additional 17,614 shares during the period. Orion Porfolio Solutions LLC boosted its stake in Pure Storage by 123.7% in the second quarter. Orion Porfolio Solutions LLC now owns 11,660 shares of the technology company’s stock valued at $671,000 after acquiring an additional 6,448 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Pure Storage by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 73,176 shares of the technology company’s stock valued at $4,213,000 after acquiring an additional 511 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of Pure Storage by 39.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,627 shares of the technology company’s stock worth $94,000 after purchasing an additional 460 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of Pure Storage by 12.3% during the 2nd quarter. Advisory Services Network LLC now owns 13,799 shares of the technology company’s stock worth $821,000 after purchasing an additional 1,511 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

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.