Bank of New York Mellon Corp Has $136.67 Million Stock Position in Pure Storage, Inc. $PSTG

Bank of New York Mellon Corp cut its holdings in Pure Storage, Inc. (NYSE:PSTG) by 30.3% during the second quarter, Holdings Channel.com reports. The firm owned 2,373,573 shares of the technology company’s stock after selling 1,031,461 shares during the quarter. Bank of New York Mellon Corp’s holdings in Pure Storage were worth $136,670,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PSTG. Mechanics Financial Corp acquired a new stake in Pure Storage in the 2nd quarter valued at $25,000. 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 buying an additional 201 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of Pure Storage in the 1st quarter valued at about $38,000. Nisa Investment Advisors LLC increased 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 acquiring an additional 239 shares during the last quarter. Finally, Ramirez Asset Management Inc. increased 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 acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley increased their price target on Pure Storage from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, August 28th. Guggenheim upped their price objective on Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Raymond James Financial boosted their target price on shares of Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Piper Sandler set a $92.00 price target on shares of Pure Storage and gave the stock an “overweight” rating in a research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.56.

Pure Storage Trading Down 4.1%

Shares of NYSE PSTG opened at $92.99 on Friday. The company has a market capitalization of $30.56 billion, a P/E ratio of 226.81, a P/E/G ratio of 8.99 and a beta of 1.24. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The stock has a 50 day moving average of $88.08 and a 200-day moving average of $66.30.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The business had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. During the same quarter last year, the firm posted $0.44 EPS. The company’s quarterly 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. Analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 9,091 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total transaction of $771,916.81. Following the completion of the sale, the chief accounting officer directly owned 107,353 shares in the company, valued at $9,115,343.23. This trade represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ajay Singh sold 7,014 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was 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 approximately $19,686,005.95. This represents a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 343,111 shares of company stock worth $27,634,439 in the last quarter. 5.60% of the stock is owned by corporate insiders.

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.