Pure Storage, Inc. $PSTG Stock Position Boosted by IFP Advisors Inc

IFP Advisors Inc boosted its stake in Pure Storage, Inc. (NYSE:PSTG) by 9.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,806 shares of the technology company’s stock after buying an additional 696 shares during the period. IFP Advisors Inc’s holdings in Pure Storage were worth $449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Callan Family Office LLC bought a new position in Pure Storage in the 2nd quarter valued at about $259,000. Vontobel Holding Ltd. acquired a new stake in Pure Storage in the 2nd quarter valued at about $280,000. Clear Creek Financial Management LLC acquired a new stake in Pure Storage in the 2nd quarter valued at about $428,000. REAP Financial Group LLC lifted its holdings in Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after acquiring an additional 201 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Pure Storage by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 87,400 shares of the technology company’s stock valued at $5,032,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Wall Street Zen raised shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Lake Street Capital upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, UBS Group upped their price target on shares of Pure Storage from $50.00 to $55.00 and gave the company a “sell” rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.06.

Insiders Place Their Bets

In other news, CRO Dan Fitzsimons sold 6,051 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the transaction, the executive owned 62,759 shares in the company, valued at $5,486,391.78. This represents a 8.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Colgrove sold 198,749 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $60.32, for a total value of $11,988,539.68. Following the completion of the transaction, the insider owned 500,000 shares in the company, valued at $30,160,000. This represents a 28.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 643,111 shares of company stock worth $42,454,009 over the last quarter. Company insiders own 5.60% of the company’s stock.

Pure Storage Trading Down 0.1%

PSTG stock opened at $92.42 on Wednesday. The firm has a market capitalization of $30.37 billion, a PE ratio of 225.42, a P/E/G ratio of 8.60 and a beta of 1.22. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $94.72. The firm has a 50-day moving average of $76.26 and a two-hundred day moving average of $60.10.

Pure Storage (NYSE:PSTG) last issued its 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 company earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.