Insider Selling: Pure Storage (NYSE:PSTG) CAO Sells 9,091 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 9,091 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total transaction of $771,916.81. Following the completion of the sale, the chief accounting officer owned 107,353 shares in the company, valued at $9,115,343.23. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Mona Chu also recently made the following trade(s):

• On Tuesday, September 23rd, Mona Chu sold 5,155 shares of Pure Storage stock. The shares were sold at an average price of $88.08, for a total transaction of $454,052.40.
• On Tuesday, September 2nd, Mona Chu sold 17,500 shares of Pure Storage stock. The shares were sold at an average price of $76.51, for a total transaction of $1,338,925.00.

Pure Storage Stock Performance

NYSE:PSTG opened at $88.31 on Friday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $89.10. The stock has a market capitalization of $29.02 billion, a P/E ratio of 215.41, a P/E/G ratio of 7.96 and a beta of 1.22. The company’s 50-day simple moving average is $70.98 and its 200-day simple moving average is $57.81.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $861.00 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. 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.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PSTG shares. Lake Street Capital lifted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Barclays lifted 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. Piper Sandler set a $92.00 target price on shares of Pure Storage and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Needham & Company LLC lifted their target price on shares of Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, UBS Group raised their price target on shares of Pure Storage from $50.00 to $55.00 and gave the stock a “sell” rating in a research report on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.06.

Hedge Funds Weigh In On Pure Storage

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Pure Storage by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock valued at $1,915,572,000 after purchasing an additional 308,738 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Pure Storage by 25.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock valued at $401,793,000 after purchasing an additional 1,868,782 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pure Storage by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock valued at $417,830,000 after purchasing an additional 123,320 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Pure Storage by 112.9% during 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 purchasing an additional 2,612,300 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Pure Storage during the 2nd quarter valued at approximately $225,203,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

About Pure Storage

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.