Pure Storage, Inc. $PSTG Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in Pure Storage, Inc. (NYSE:PSTG) by 24.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,994 shares of the technology company’s stock after selling 13,027 shares during the quarter. Bessemer Group Inc.’s holdings in Pure Storage were worth $2,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PSTG. Mechanics Financial Corp purchased a new position in Pure Storage during the second quarter worth about $25,000. REAP Financial Group LLC grew its stake in shares of 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 buying an additional 201 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Pure Storage during the 1st quarter worth approximately $38,000. Nisa Investment Advisors LLC raised its position 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 valued at $40,000 after buying an additional 239 shares during the period. Finally, Ramirez Asset Management Inc. lifted its holdings in 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 acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In related news, insider Ajay Singh sold 7,014 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the transaction, the insider owned 229,307 shares of the company’s stock, valued at $19,686,005.95. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Roxanne Taylor sold 3,000 shares of Pure Storage stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the completion of the transaction, the director owned 16,343 shares in the company, valued at $1,257,266.99. This trade represents a 15.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 343,111 shares of company stock worth $27,634,439 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSTG has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Wedbush boosted their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Raymond James Financial increased their target price on shares of Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Barclays lifted their price target on shares of Pure Storage from $57.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, August 29th. Finally, Piper Sandler set a $92.00 price objective on shares of Pure Storage and gave the stock an “overweight” rating in a report on Thursday, September 25th. Fourteen 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.56.

Pure Storage Trading Down 0.7%

Shares of PSTG stock opened at $96.92 on Friday. The company has a market cap of $31.85 billion, a P/E ratio of 236.40, a PEG ratio of 8.99 and a beta of 1.22. The firm has a fifty day moving average price of $84.78 and a 200 day moving average price of $64.39. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $98.23.

Pure Storage (NYSE:PSTG) last announced 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 company had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

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.