City State Bank Increases Stock Position in Pure Storage, Inc. $PSTG

City State Bank grew its holdings in Pure Storage, Inc. (NYSE:PSTG) by 80.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,175 shares of the technology company’s stock after buying an additional 525 shares during the period. City State Bank’s holdings in Pure Storage were worth $68,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PSTG. Mechanics Financial Corp purchased a new stake in shares of Pure Storage in the second quarter valued at about $25,000. REAP Financial Group LLC grew its position in shares of Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of Pure Storage in the first quarter valued at approximately $38,000. Nisa Investment Advisors LLC grew its position in shares of Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after purchasing an additional 239 shares during the last quarter. Finally, Ramirez Asset Management Inc. grew its position in shares of Pure Storage by 40.0% in the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 200 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Trading Up 0.2%

Shares of Pure Storage stock opened at $93.81 on Friday. The firm has a fifty day simple moving average of $81.62 and a 200-day simple moving average of $62.91. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $96.08. The stock has a market capitalization of $30.83 billion, a price-to-earnings ratio of 228.80, a PEG ratio of 8.65 and a beta of 1.22.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business 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 revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,014 shares of the business’s stock in a transaction 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 sale, 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 SEC, which can be accessed through this link. Also, insider John Colgrove sold 198,749 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the completion of the sale, the insider directly owned 500,000 shares in the company, valued at $30,160,000. This trade represents a 28.44% decrease in their position. The disclosure for this sale can be found here. Insiders have 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 company insiders.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent analyst reports. 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, September 25th. Wall Street Zen raised shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Needham & Company LLC lifted their price objective on shares of Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Cowen reiterated a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Finally, UBS Group set a $110.00 target price on shares of Pure Storage in a research report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.56.

Pure Storage Company 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.