Trail Ridge Investment Advisors LLC Has $715,000 Stake in Pure Storage, Inc. $PSTG

Trail Ridge Investment Advisors LLC trimmed its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 7.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,014 shares of the technology company’s stock after selling 931 shares during the period. Trail Ridge Investment Advisors LLC’s holdings in Pure Storage were worth $715,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PSTG. Mechanics Financial Corp acquired a new stake in shares of Pure Storage during the 2nd quarter valued at about $25,000. REAP Financial Group LLC lifted its holdings in shares of Pure Storage by 49.0% during the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after buying an additional 201 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Pure Storage during the 1st quarter valued at about $38,000. Nisa Investment Advisors LLC lifted its holdings in shares of Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after buying an additional 239 shares during the last quarter. Finally, Ramirez Asset Management Inc. raised its stake in shares of Pure Storage by 40.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after acquiring an additional 200 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pure Storage news, CAO Mona Chu sold 17,500 shares of Pure Storage stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total value of $1,338,925.00. Following the transaction, the chief accounting officer directly owned 138,899 shares of the company’s stock, valued at $10,627,162.49. The trade was a 11.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roxanne Taylor sold 3,000 shares of Pure Storage 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 directly owned 16,343 shares in the company, valued at approximately $1,257,266.99. This represents a 15.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 343,111 shares of company stock worth $27,634,439. 5.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PSTG. JPMorgan Chase & Co. raised their price objective on Pure Storage from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Needham & Company LLC raised their price objective on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Cowen reissued a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Finally, Morgan Stanley raised their price objective on Pure Storage from $60.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, August 28th. Fourteen investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.56.

Pure Storage Stock Up 1.8%

Shares of NYSE PSTG opened at $98.77 on Friday. The business’s 50 day moving average is $85.59 and its two-hundred day moving average is $64.95. The company has a market cap of $32.46 billion, a P/E ratio of 240.90, a P/E/G ratio of 8.99 and a beta of 1.22. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $99.02.

Pure Storage (NYSE:PSTG) last issued its quarterly 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. The company had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Sell-side analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

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.