American Century Companies Inc. Sells 33,247 Shares of Pure Storage, Inc. $PSTG

Key Points

• American Century Companies Inc. has reduced its holdings in Pure Storage, Inc. by 3.7%, now owning approximately 0.26% of the company, valued at around $38 million.
• Several institutional investors are actively trading shares of Pure Storage, with hedge funds owning 83.42% of the stock.
• Wall Street analysts are optimistic about Pure Storage, with an average target price of $70.21 and a consensus recommendation of "Moderate Buy."

American Century Companies Inc. lowered its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 860,163 shares of the technology company's stock after selling 33,247 shares during the period. American Century Companies Inc. owned approximately 0.26% of Pure Storage worth $38,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Ethic Inc. raised its holdings in shares of Pure Storage by 9.3% during the first quarter. Ethic Inc. now owns 17,112 shares of the technology company's stock valued at $777,000 after purchasing an additional 1,456 shares during the period. Aberdeen Group plc raised its holdings in shares of Pure Storage by 160.6% during the first quarter. Aberdeen Group plc now owns 230,470 shares of the technology company's stock valued at $10,203,000 after purchasing an additional 142,031 shares during the period. Liontrust Investment Partners LLP raised its holdings in shares of Pure Storage by 0.9% during the first quarter. Liontrust Investment Partners LLP now owns 90,864 shares of the technology company's stock valued at $4,023,000 after purchasing an additional 855 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Pure Storage during the first quarter valued at about $1,561,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Pure Storage in the 1st quarter worth about $242,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 198,749 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the completion of the transaction, the insider directly owned 500,000 shares of the company's stock, valued at $30,160,000. This represents a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Francis Murphy sold 11,234 shares of the stock in a transaction that occurred on 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 $1,209,000.90. This represents a 33.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 446,794 shares of company stock valued at $26,641,913 over the last quarter. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Needham & Company LLC restated a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a report on Friday, June 20th. JPMorgan Chase & Co. lowered their target price 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. Wedbush restated an "outperform" rating and issued a $70.00 target price on shares of Pure Storage in a report on Thursday, May 29th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $66.00 price objective (up previously from $53.00) on shares of Pure Storage in a research note 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.11.

Pure Storage Stock Performance

NYSE:PSTG traded up $2.5580 on Friday, hitting $58.2880. The stock had a trading volume of 1,724,493 shares, compared to its average volume of 1,946,799. The stock has a market cap of $19.05 billion, a P/E ratio of 157.54, a price-to-earnings-growth ratio of 5.53 and a beta of 1.07. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The firm's fifty day simple moving average is $56.48 and its two-hundred day simple moving average is $53.49.

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

Pure Storage Company 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.