Pure Storage (NYSE:PSTG) CAO Mona Chu Sells 5,155 Shares

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 5,155 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $88.08, for a total value of $454,052.40. Following the completion of the transaction, the chief accounting officer directly owned 116,444 shares in the company, valued at approximately $10,256,387.52. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $1,338,925.00.

Pure Storage Stock Up 0.6%

PSTG stock opened at $88.38 on Wednesday. The business’s fifty day moving average is $67.10 and its 200-day moving average is $56.15. The company has a market cap of $29.04 billion, a P/E ratio of 215.55, a price-to-earnings-growth ratio of 8.16 and a beta of 1.20. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $89.10.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pure Storage

Large investors have recently added to or reduced their stakes in the company. Mechanics Financial Corp bought a new position in Pure Storage during the 2nd quarter worth about $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in Pure Storage by 55.9% during the 1st 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 in the last quarter. True Wealth Design LLC increased its holdings in Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after purchasing an additional 439 shares in the last quarter. SouthState Corp increased its holdings in Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after purchasing an additional 489 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its stake in shares of Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock worth $35,000 after buying an additional 785 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley increased their price target 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. Barclays upped their price objective on shares of Pure Storage from $57.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, August 29th. Cowen restated a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Raymond James Financial upped their price objective on shares of Pure Storage from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, Citigroup upped their price objective on shares of Pure Storage from $70.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. 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 company’s stock. Based on data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and an average 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.