1,892 Shares in Pure Storage, Inc. $PSTG Purchased by 1248 Management LLC

1248 Management LLC purchased a new position in Pure Storage, Inc. (NYSE:PSTG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,892 shares of the technology company’s stock, valued at approximately $84,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its stake in Pure Storage by 25.9% in the 1st 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 period. Blair William & Co. IL increased its position in Pure Storage by 2.8% during the 1st 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 during the period. Northern Trust Corp increased its position in Pure Storage by 0.8% during the 1st 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Pure Storage by 1.9% during the 1st 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 during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Pure Storage by 3.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company’s stock valued at $88,992,000 after purchasing an additional 58,054 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Northland Securities raised their target price on shares of Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. UBS Group raised their target price on shares of Pure Storage from $50.00 to $55.00 and gave the company a “sell” rating in a research report on Thursday, August 28th. Guggenheim reissued a “buy” rating and set a $93.00 target price on shares of Pure Storage in a research report on Thursday, August 28th. Needham & Company LLC raised their target price on shares of Pure Storage from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Evercore ISI raised their target price on shares of Pure Storage from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Fourteen research 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. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and an average price target of $77.39.

Pure Storage Stock Performance

NYSE:PSTG opened at $82.57 on Friday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $83.32. The stock has a market capitalization of $26.99 billion, a P/E ratio of 201.40, a P/E/G ratio of 7.58 and a beta of 1.20. The company’s 50-day simple moving average is $62.26 and its 200-day simple moving average is $54.29.

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, beating 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 business had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $845.78 million. During the same period last year, the business earned $0.44 EPS. The company’s 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, research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Buying and Selling

In related news, Director John Francis Murphy sold 6,959 shares of Pure Storage stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $56.17, for a total value of $390,887.03. Following the completion of the sale, the director directly owned 19,706 shares in the company, valued at $1,106,886.02. This trade represents a 26.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 95,300 shares of Pure Storage stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $60.08, for a total transaction of $5,725,624.00. Following the completion of the sale, the insider owned 400,000 shares of the company’s stock, valued at $24,032,000. This trade represents a 19.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 551,360 shares of company stock worth $33,317,922 over the last ninety days. Company insiders own 5.60% of the company’s stock.

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.