Yousif Capital Management LLC Reduces Stock Position in Pure Storage, Inc. $PSTG

Yousif Capital Management LLC reduced its holdings in Pure Storage, Inc. (NYSE:PSTG) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,786 shares of the technology company’s stock after selling 1,713 shares during the period. Yousif Capital Management LLC’s holdings in Pure Storage were worth $6,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PSTG. Mechanics Financial Corp purchased a new position in shares of Pure Storage during the 2nd quarter worth about $25,000. 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 purchasing an additional 785 shares during the period. REAP Financial Group LLC boosted its stake in shares of Pure Storage by 49.0% during the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock worth $35,000 after purchasing an additional 201 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of Pure Storage during the 1st quarter worth about $38,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock worth $40,000 after purchasing an additional 239 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Stock Performance

NYSE:PSTG opened at $92.42 on Wednesday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $94.72. The firm has a market cap of $30.37 billion, a P/E ratio of 225.42, a P/E/G ratio of 8.60 and a beta of 1.22. The firm has a 50-day simple moving average of $76.26 and a 200-day simple moving average of $60.10.

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

Insider Activity

In other news, insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total value of $602,151.90. Following the transaction, the insider owned 229,307 shares of the company’s stock, valued at $19,686,005.95. The trade was a 2.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mona Chu sold 17,500 shares of Pure Storage stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the completion of the transaction, the chief accounting officer directly owned 138,899 shares in the company, valued at approximately $10,627,162.49. The trade was a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 643,111 shares of company stock worth $42,454,009 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PSTG shares. Barclays lifted their price target on shares of Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. Guggenheim lifted their price target on shares of Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Wells Fargo & Company lifted their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, September 26th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Northland Securities lifted their price objective on shares of Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.06.

About Pure Storage

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.