Erste Asset Management GmbH Sells 28,700 Shares of Pure Storage, Inc. $PSTG

Erste Asset Management GmbH trimmed its stake in Pure Storage, Inc. (NYSE:PSTG) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 287,500 shares of the technology company’s stock after selling 28,700 shares during the period. Erste Asset Management GmbH’s holdings in Pure Storage were worth $12,792,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PSTG. Nuveen LLC bought a new position in shares of Pure Storage in the first quarter worth approximately $32,410,000. Raiffeisen Bank International AG bought a new position in shares of Pure Storage in the fourth quarter worth approximately $33,925,000. Allspring Global Investments Holdings LLC bought a new position in shares of Pure Storage in the first quarter worth approximately $24,462,000. Baird Financial Group Inc. increased its position in shares of Pure Storage by 9,041.4% in the fourth quarter. Baird Financial Group Inc. now owns 521,516 shares of the technology company’s stock worth $32,037,000 after purchasing an additional 515,811 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Pure Storage by 18.2% in the fourth 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 during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $55.70 on Thursday. The stock has a market capitalization of $18.20 billion, a P/E ratio of 150.54, a PEG ratio of 5.44 and a beta of 1.07. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The firm’s 50 day simple moving average is $56.32 and its two-hundred day simple moving average is $53.75.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The firm had revenue of $778.49 million for the quarter, compared to analysts’ expectations of $770.03 million. During the same quarter last year, the business earned $0.32 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Dan Fitzsimons sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total value of $309,900.00. Following the transaction, the executive owned 75,965 shares in the company, valued at approximately $3,923,592.25. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the transaction, the insider owned 261,465 shares in the company, valued at $14,498,234.25. This represents a 7.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 446,794 shares of company stock worth $26,641,913 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several research analyst reports. Wedbush restated an “outperform” rating and issued a $70.00 price objective on shares of Pure Storage in a research report on Thursday, May 29th. Citigroup increased their price target on shares of Pure Storage from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Piper Sandler reiterated an “overweight” rating and set a $66.00 price target (up from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. Evercore ISI increased their price target on shares of Pure Storage from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Pure Storage from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, May 29th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.21.

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.