Nuveen LLC Makes New Investment in Pure Storage, Inc. $PSTG

Key Points

• Nuveen LLC purchased 732,088 shares of Pure Storage, Inc. (NYSE:PSTG) for approximately $32.4 million, representing a 0.22% ownership stake in the company.
• Pure Storage recently reported earnings of $0.29 per share, exceeding analyst expectations, with revenue up 12.3% year-over-year at $778.49 million.
• Insider selling was notable, with two executives selling a combined total of 221,350 shares, indicating a decrease in their ownership positions.

Nuveen LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 732,088 shares of the technology company's stock, valued at approximately $32,410,000. Nuveen LLC owned about 0.22% of Pure Storage at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PSTG. McIlrath & Eck LLC acquired a new stake in Pure Storage in the fourth quarter valued at $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in Pure Storage by 55.9% in 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 last quarter. FNY Investment Advisers LLC lifted its stake in Pure Storage by 5,233.3% in 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 last quarter. TruNorth Capital Management LLC acquired a new stake in Pure Storage in the first quarter valued at $38,000. Finally, Nisa Investment Advisors LLC lifted its stake in 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. Institutional investors and hedge funds own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on PSTG shares. Barclays cut their price target on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Wall Street Zen raised shares of Pure Storage from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Wedbush reissued an "outperform" rating and issued a $70.00 price objective on shares of Pure Storage in a research report on Thursday, May 29th. JPMorgan Chase & Co. dropped their price objective on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Finally, Morgan Stanley increased their price objective on shares of Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.21.

Pure Storage Stock Performance

NYSE:PSTG traded down $1.52 during mid-day trading on Wednesday, reaching $55.70. 1,927,754 shares of the company's stock were exchanged, compared to its average volume of 2,691,882. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $73.67. The firm has a market capitalization of $18.20 billion, a PE ratio of 150.54, a price-to-earnings-growth ratio of 5.56 and a beta of 1.07. The business's fifty day simple moving average is $56.31 and its two-hundred day simple moving average is $53.74.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The business had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. During the same period last year, the firm earned $0.32 earnings per share. Pure Storage's revenue for the quarter was up 12.3% compared to the same quarter last year. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Buying and Selling at Pure Storage

In related news, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $55.13, for a total transaction of $619,330.42. Following the transaction, the director directly owned 21,930 shares of the company's stock, valued at approximately $1,209,000.90. This trade represents a 33.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 198,749 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the sale, the insider owned 500,000 shares in the company, valued at $30,160,000. The trade was a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 446,794 shares of company stock valued at $26,641,913 in the last three months. 5.60% of the stock is owned by insiders.

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.