Pure Storage (NYSE:PSTG) Insider Sells $8,733,000.00 in Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $87.33, for a total value of $8,733,000.00. Following the transaction, the insider owned 300,000 shares in the company, valued at approximately $26,199,000. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

John Colgrove also recently made the following trade(s):

• On Wednesday, August 27th, John Colgrove sold 95,300 shares of Pure Storage stock. The shares were sold at an average price of $60.08, for a total value of $5,725,624.00.
• On Thursday, July 31st, John Colgrove sold 198,749 shares of Pure Storage stock. The shares were sold at an average price of $60.32, for a total value of $11,988,539.68.
• On Wednesday, July 30th, John Colgrove sold 187,740 shares of Pure Storage stock. The shares were sold at an average price of $60.02, for a total value of $11,268,154.80.
• On Tuesday, July 29th, John Colgrove sold 13,511 shares of Pure Storage stock. The shares were sold at an average price of $60.09, for a total value of $811,875.99.

Pure Storage Stock Performance

Shares of PSTG stock opened at $84.93 on Thursday. The stock has a market cap of $27.91 billion, a PE ratio of 207.15, a price-to-earnings-growth ratio of 8.20 and a beta of 1.20. The business’s fifty day moving average is $67.70 and its 200-day moving average is $56.35. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $89.10.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $861.00 million during the quarter, compared to analyst estimates 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 was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PSTG shares. Northland Securities raised their price objective on Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their price objective on Pure Storage from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Wedbush raised their price objective on Pure Storage from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Finally, Lake Street Capital raised their target price on Pure Storage from $70.00 to $80.00 and gave the stock 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.39.

Institutional Trading of Pure Storage

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mechanics Financial Corp acquired a new stake in Pure Storage during the second quarter valued at $25,000. True Wealth Design LLC boosted its position in Pure Storage by 402.8% during the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after purchasing an additional 439 shares during the last quarter. SouthState Corp boosted its position in Pure Storage by 474.8% during the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock valued at $34,000 after purchasing an additional 489 shares during the last quarter. REAP Financial Group LLC boosted its position in Pure Storage by 49.0% during the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted 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 valued at $29,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

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.