Prime Capital Investment Advisors LLC Decreases Holdings in Pure Storage, Inc. $PSTG

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTGFree Report) by 50.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,932 shares of the technology company’s stock after selling 3,951 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Pure Storage were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PSTG. Farther Finance Advisors LLC raised its position in shares of Pure Storage by 32.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,634 shares of the technology company’s stock valued at $120,000 after buying an additional 649 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Pure Storage by 59.4% during the 1st quarter. GAMMA Investing LLC now owns 5,118 shares of the technology company’s stock valued at $227,000 after buying an additional 1,908 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Pure Storage by 11.3% during the 1st quarter. Fifth Third Bancorp now owns 5,339 shares of the technology company’s stock valued at $236,000 after buying an additional 542 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Pure Storage by 38.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 73,004 shares of the technology company’s stock valued at $3,232,000 after buying an additional 20,320 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its position in shares of Pure Storage by 257.2% during the 1st quarter. Bank Pictet & Cie Europe AG now owns 32,870 shares of the technology company’s stock valued at $1,455,000 after buying an additional 23,669 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Price Performance

Shares of PSTG stock opened at $89.43 on Monday. The company has a market capitalization of $29.39 billion, a P/E ratio of 218.12, a P/E/G ratio of 8.30 and a beta of 1.22. The company’s 50-day simple moving average is $74.81 and its two-hundred day simple moving average is $59.55. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $94.72.

Pure Storage (NYSE:PSTGGet Free Report) last issued its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the transaction, the executive directly owned 62,759 shares in the company, valued at approximately $5,486,391.78. This trade represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mona Chu sold 17,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the transaction, the chief accounting officer owned 138,899 shares in the company, valued at approximately $10,627,162.49. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 643,111 shares of company stock valued at $42,454,009 over the last 90 days. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective 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. Wedbush boosted their target price on Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Needham & Company LLC boosted their target price on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, Citigroup boosted their target price on Pure Storage from $70.00 to $81.00 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, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.06.

Check Out Our Latest Stock Analysis on Pure Storage

About Pure Storage

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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