Jump Financial LLC Invests $1.66 Million in Pure Storage, Inc. $PSTG

Key Points

• Jump Financial LLC purchased 37,429 shares of Pure Storage, Inc. valued at approximately $1.7 million during the 1st quarter, indicating strong institutional interest in the company.
• Pure Storage reported earnings per share (EPS) of $0.43 for the last quarter, surpassing analysts' expectations, and its revenue increased by 12.7% compared to the previous year.
• Most analysts maintain a positive outlook on Pure Storage, with 13 buy ratings and an average target price of around $69.56, reflecting confidence in the company's growth prospects.

Jump Financial LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 37,429 shares of the technology company's stock, valued at approximately $1,657,000.

Other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC bought a new stake in shares of Pure Storage during the 4th quarter worth $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after acquiring an additional 233 shares during the period. FNY Investment Advisers LLC boosted its holdings in Pure Storage by 5,233.3% during the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after acquiring an additional 785 shares during the period. TruNorth Capital Management LLC bought a new position in shares of Pure Storage in the first quarter worth about $38,000. Finally, Nisa Investment Advisors LLC lifted 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 worth $40,000 after purchasing an additional 239 shares during the last quarter. Institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

PSTG has been the subject of several recent analyst reports. Morgan Stanley increased their target price on Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a research note on Thursday. Evercore ISI boosted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday. Wedbush increased their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday. Cowen restated a "buy" rating on shares of Pure Storage in a report on Thursday. Finally, Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Saturday. Fourteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.11.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 6,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the sale, the executive directly owned 75,965 shares in the company, valued at $3,923,592.25. This represents a 7.32% 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 22,601 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the sale, the insider directly owned 261,465 shares in the company, valued at approximately $14,498,234.25. The trade was a 7.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 542,094 shares of company stock valued at $32,367,537. 5.60% of the stock is currently owned by insiders.

Pure Storage Trading Down 3.8%

NYSE PSTG traded down $3.06 on Monday, reaching $77.48. The company's stock had a trading volume of 9,351,858 shares, compared to its average volume of 3,529,062. The firm has a market cap of $25.32 billion, a PE ratio of 188.99, a price-to-earnings-growth ratio of 8.49 and a beta of 1.20. The business has a 50-day moving average price of $57.99 and a 200 day moving average price of $53.34. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $80.68.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The firm had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. During the same quarter last year, the company earned $0.44 earnings per share. The company's revenue for the quarter 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. Analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Pure Storage 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.