Taylor Frigon Capital Management LLC Purchases 9,709 Shares of Pure Storage, Inc. $PSTG

Taylor Frigon Capital Management LLC grew its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 23.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,526 shares of the technology company’s stock after buying an additional 9,709 shares during the period. Pure Storage accounts for approximately 1.5% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 14th biggest position. Taylor Frigon Capital Management LLC’s holdings in Pure Storage were worth $2,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSTG. LPL Financial LLC boosted its stake in Pure Storage by 22.6% during the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock worth $5,240,000 after acquiring an additional 21,812 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Pure Storage by 13.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock worth $12,209,000 after purchasing an additional 32,611 shares in the last quarter. Crumly & Associates Inc. purchased a new stake in shares of Pure Storage in the 2nd quarter worth approximately $242,000. Michael S. Ryan Inc. bought a new position in Pure Storage during the 2nd quarter valued at approximately $254,000. Finally, D.A. Davidson & CO. raised its stake in Pure Storage by 7.7% during the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company’s stock valued at $310,000 after buying an additional 500 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Trading Down 1.2%

NYSE:PSTG opened at $82.46 on Monday. The company has a market cap of $27.10 billion, a PE ratio of 201.13, a price-to-earnings-growth ratio of 7.65 and a beta of 1.20. The company has a 50 day simple moving average of $68.71 and a two-hundred day simple moving average of $56.94. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $89.10.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. During the same period last year, the business posted $0.44 EPS. The company’s revenue for the quarter 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. Research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PSTG shares. Evercore ISI increased their target price on Pure Storage from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler set a $92.00 price objective on shares of Pure Storage and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley upped their target price on shares of Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Lake Street Capital upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.06.

Insiders Place Their Bets

In other Pure Storage news, CRO Dan Fitzsimons sold 6,051 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total transaction of $528,978.42. Following the completion of the sale, the executive directly owned 62,759 shares in the company, valued at $5,486,391.78. The trade was a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the 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 trade represents a 7.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 663,580 shares of company stock valued at $43,326,205. 5.60% of the stock is currently owned by company insiders.

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.