Meiji Yasuda Asset Management Co Ltd. Trims Stock Position in Pure Storage, Inc. $PSTG

Meiji Yasuda Asset Management Co Ltd. lowered its position in Pure Storage, Inc. (NYSE:PSTG) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,667 shares of the technology company’s stock after selling 296 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Pure Storage were worth $516,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock worth $29,000 after purchasing an additional 233 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock worth $40,000 after purchasing an additional 239 shares in the last quarter. MBM Wealth Consultants LLC raised its holdings in shares of Pure Storage by 2.3% during the 1st quarter. MBM Wealth Consultants LLC now owns 11,372 shares of the technology company’s stock valued at $503,000 after buying an additional 252 shares during the period. Mutual Advisors LLC lifted its position in shares of Pure Storage by 5.1% during the first quarter. Mutual Advisors LLC now owns 5,173 shares of the technology company’s stock worth $236,000 after purchasing an additional 252 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Pure Storage by 0.9% in the first quarter. Citizens Financial Group Inc. RI now owns 29,481 shares of the technology company’s stock valued at $1,305,000 after purchasing an additional 261 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Performance

Pure Storage stock opened at $81.12 on Thursday. The firm has a market capitalization of $26.51 billion, a P/E ratio of 197.85, a P/E/G ratio of 7.40 and a beta of 1.20. The company has a 50-day simple moving average of $61.74 and a 200-day simple moving average of $54.16. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $82.51.

Pure Storage (NYSE:PSTG) last posted its 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. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The firm had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $845.78 million. During the same quarter in the prior year, the firm earned $0.44 EPS. Pure Storage’s quarterly revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Activity

In other news, Director John Francis Murphy sold 6,959 shares of the business’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $56.17, for a total value of $390,887.03. Following the sale, the director owned 19,706 shares of the company’s stock, valued at approximately $1,106,886.02. The trade was a 26.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roxanne Taylor sold 3,000 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the completion of the sale, the director owned 16,343 shares of the company’s stock, valued at approximately $1,257,266.99. This trade represents a 15.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 551,360 shares of company stock valued at $33,317,922 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSTG. Bank of America lifted their price objective on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Piper Sandler boosted their price objective on Pure Storage from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Wedbush increased their target price on Pure Storage from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Finally, Needham & Company LLC lifted their target price on Pure Storage from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.39.

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.