Rep. Robert Bresnahan, Jr. Sells Pure Storage, Inc. (NYSE:PSTG) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Pure Storage, Inc. (NYSE:PSTG). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Pure Storage stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.

Pure Storage Trading Up 0.4 %

Shares of PSTG stock opened at $67.78 on Friday. The firm has a fifty day simple moving average of $65.73 and a two-hundred day simple moving average of $57.70. The firm has a market capitalization of $22.11 billion, a PE ratio of 178.38, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 12 month low of $38.78 and a 12 month high of $73.67.

Insider Buying and Selling

In other news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at approximately $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at approximately $479,611,127.10. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Pure Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank grew its holdings in shares of Pure Storage by 105.1% during the 4th quarter. Comerica Bank now owns 436,527 shares of the technology company’s stock worth $26,816,000 after acquiring an additional 223,679 shares during the period. Northern Trust Corp boosted its stake in Pure Storage by 18.2% in the 4th quarter. Northern Trust Corp now owns 2,888,060 shares of the technology company’s stock worth $177,414,000 after purchasing an additional 443,728 shares in the last quarter. Beacon Pointe Advisors LLC grew its holdings in shares of Pure Storage by 27.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 12,590 shares of the technology company’s stock valued at $773,000 after buying an additional 2,723 shares during the last quarter. Quarry LP increased its holdings in shares of Pure Storage by 387.4% in the 4th quarter. Quarry LP now owns 2,369 shares of the technology company’s stock worth $146,000 after purchasing an additional 1,883 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in Pure Storage during the 4th quarter valued at about $402,000. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PSTG shares. Oppenheimer started coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Pure Storage in a research note on Thursday, November 14th. Barclays lifted their target price on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Northland Securities reiterated a “market perform” rating and set a $63.00 target price (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.