Aberdeen Group plc Boosts Position in Pure Storage, Inc. $PSTG

Key Points

• Aberdeen Group plc significantly increased its stake in Pure Storage, Inc. by 160.6%, owning approximately $10.20 million worth of shares as of the latest SEC filing.
• Several institutional investors have made adjustments to their holdings, resulting in institutions now owning 83.42% of Pure Storage's stock.
• Pure Storage reported a 12.3% year-over-year revenue increase for the last quarter, with earnings per share of $0.29, surpassing analyst expectations.

Aberdeen Group plc boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 160.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,470 shares of the technology company's stock after purchasing an additional 142,031 shares during the quarter. Aberdeen Group plc owned about 0.07% of Pure Storage worth $10,203,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its stake in Pure Storage by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company's stock valued at $442,736,000 after purchasing an additional 401,035 shares in the last quarter. Blair William & Co. IL increased its position in Pure Storage by 2.8% during the first quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company's stock valued at $156,780,000 after acquiring an additional 96,731 shares during the last quarter. Northern Trust Corp increased its position in Pure Storage by 18.2% during the fourth quarter. Northern Trust Corp now owns 2,888,060 shares of the technology company's stock valued at $177,414,000 after acquiring an additional 443,728 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Pure Storage by 3.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company's stock valued at $88,992,000 after acquiring an additional 58,054 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Pure Storage by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,461,500 shares of the technology company's stock valued at $64,701,000 after acquiring an additional 85,851 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Transactions at Pure Storage

In other Pure Storage news, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total value of $619,330.42. Following the transaction, the director owned 21,930 shares in the company, valued at approximately $1,209,000.90. This trade represents a 33.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 6,000 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total value of $309,900.00. Following the completion of the transaction, the executive owned 75,965 shares in the company, valued at $3,923,592.25. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 446,794 shares of company stock worth $26,641,913. Company insiders own 5.60% of the company's stock.

Pure Storage Trading Up 4.6%

PSTG stock traded up $2.5580 during midday trading on Friday, reaching $58.2880. The stock had a trading volume of 1,724,493 shares, compared to its average volume of 1,946,799. The company's fifty day simple moving average is $56.48 and its 200 day simple moving average is $53.49. The company has a market cap of $19.05 billion, a price-to-earnings ratio of 157.54, a price-to-earnings-growth ratio of 5.53 and a beta of 1.07. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup upped their price target on shares of Pure Storage from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Wedbush reissued an "outperform" rating and set a $70.00 price target on shares of Pure Storage in a research report on Thursday, May 29th. Piper Sandler reissued an "overweight" rating and set a $66.00 price target (up from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Pure Storage in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Pure Storage has an average rating of "Moderate Buy" and a consensus price target of $70.11.

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.