Pure Storage, Inc. $PSTG Shares Acquired by Alight Capital Management LP

Key Points

• Alight Capital Management LP increased its stake in Pure Storage, Inc. by 57.7% in the first quarter, acquiring an additional 17,300 shares and now holding a total of 47,300 shares.
• Pure Storage reported $861 million in revenue for the last quarter, surpassing analyst expectations, and announced an EPS of $0.43, beating the predicted $0.39.
• Several equity analysts raised their price targets for Pure Storage, with new targets ranging from $70 to $85, indicating a notable positive outlook on stock performance.

Alight Capital Management LP raised its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 57.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,300 shares of the technology company's stock after purchasing an additional 17,300 shares during the period. Pure Storage comprises approximately 1.0% of Alight Capital Management LP's portfolio, making the stock its 27th biggest holding. Alight Capital Management LP's holdings in Pure Storage were worth $2,094,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of 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 position in shares of 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 in the last quarter. FNY Investment Advisers LLC lifted its position in shares of 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 in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Pure Storage in the first quarter valued at $38,000. Finally, Nisa Investment Advisors LLC lifted 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 in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSTG. Wedbush upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Citigroup upped their price objective on Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Lake Street Capital upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, UBS Group upped their price objective on Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a research report on Thursday, August 28th. Fourteen equities research 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $77.39.

Pure Storage Stock Performance

NYSE PSTG traded up $0.39 during trading hours on Friday, hitting $79.12. 3,919,714 shares of the company's stock were exchanged, compared to its average volume of 3,799,684. The business's 50 day moving average is $60.32 and its 200-day moving average is $53.79. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $80.68. The firm has a market capitalization of $25.86 billion, a P/E ratio of 192.99, a price-to-earnings-growth ratio of 7.40 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last released its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping 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 firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. During the same period in the prior year, the business posted $0.44 earnings per share. The firm'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. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John Francis Murphy sold 6,959 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $56.17, for a total value of $390,887.03. Following the transaction, the director directly owned 19,706 shares in the company, valued at $1,106,886.02. This trade represents a 26.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Dan Fitzsimons sold 6,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was 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 approximately $3,923,592.25. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 551,360 shares of company stock worth $33,317,922. Corporate insiders own 5.60% of the company's stock.

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.