Sequoia Financial Advisors LLC Invests $235,000 in Pure Storage, Inc. $PSTG

Sequoia Financial Advisors LLC acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,082 shares of the technology company’s stock, valued at approximately $235,000.

Other large investors also recently made changes to their positions in the company. LPL Financial LLC increased its position in shares of 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 holdings in Pure Storage by 13.4% during the first 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 during the last quarter. Crumly & Associates Inc. acquired a new position in Pure Storage during the second quarter worth $242,000. Michael S. Ryan Inc. acquired a new position in Pure Storage during the second quarter worth $254,000. Finally, D.A. Davidson & CO. boosted its holdings 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 worth $310,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Insider Activity

In other news, insider John Colgrove sold 198,749 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider directly owned 500,000 shares in the company, valued at approximately $30,160,000. This trade represents a 28.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 17,500 shares of the firm’s 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 completion of the sale, the chief accounting officer owned 138,899 shares in the company, valued at approximately $10,627,162.49. The trade was a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 743,111 shares of company stock valued at $51,703,009 in the last 90 days. 5.60% of the stock is owned by corporate insiders.

Pure Storage Price Performance

Shares of PSTG stock opened at $93.61 on Friday. The stock has a market cap of $30.76 billion, a P/E ratio of 228.32, a P/E/G ratio of 8.19 and a beta of 1.22. The company has a fifty day moving average price of $80.91 and a two-hundred day moving average price of $62.36. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $95.14.

Pure Storage (NYSE:PSTG) last posted its 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. The company had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. Pure Storage’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSTG. Cowen restated a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Wall Street Zen upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Lake Street Capital increased their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their target price on shares of Pure Storage from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Piper Sandler set a $92.00 target price on shares of Pure Storage and gave the stock an “overweight” rating in a report on Thursday, September 25th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.56.

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.