Ameritas Advisory Services LLC Sells 3,153 Shares of Pure Storage, Inc. $PSTG

Key Points

• Ameritas Advisory Services LLC reduced its stake in Pure Storage, Inc. by 68.4%, selling 3,153 shares and ending up with 1,459 shares valued at $84,000.
• Numerous large investors have altered their positions in Pure Storage, with 83.42% of the stock currently owned by institutional investors.
• Wall Street analysts have generally rated Pure Storage with a positive outlook, with an average target price of $81.06 and several firms boosting their price targets recently.

Ameritas Advisory Services LLC cut its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 68.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,459 shares of the technology company's stock after selling 3,153 shares during the quarter. Ameritas Advisory Services LLC's holdings in Pure Storage were worth $84,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PSTG. Mechanics Financial Corp bought a new position in Pure Storage in the second quarter worth about $25,000. FNY Investment Advisers LLC grew its stake in shares of Pure Storage by 5,233.3% during the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after acquiring an additional 785 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in Pure Storage in the first quarter valued at approximately $38,000. Nisa Investment Advisors LLC boosted its position 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 buying an additional 239 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in Pure Storage in the first quarter valued at approximately $43,000. 83.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pure Storage

In other news, Director Roxanne Taylor sold 3,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the sale, the director owned 16,343 shares of the company's stock, valued at approximately $1,257,266.99. This trade represents a 15.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 7,014 shares of the firm's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the sale, the insider directly owned 229,307 shares in the company, valued at $19,686,005.95. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 643,111 shares of company stock worth $42,454,009. 5.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PSTG shares. Piper Sandler set a $92.00 price target on Pure Storage and gave the company an "overweight" rating in a report on Thursday, September 25th. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Lake Street Capital boosted their price target on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Needham & Company LLC boosted their price target on Pure Storage from $85.00 to $100.00 and gave the company a "buy" rating in a report on Friday, September 26th. Finally, UBS Group boosted their price target on Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $81.06.

Pure Storage Trading Down 4.5%

NYSE PSTG opened at $89.43 on Friday. The stock has a fifty day simple moving average of $74.81 and a 200-day simple moving average of $59.41. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $94.72. The stock has a market cap of $29.39 billion, a PE ratio of 218.12, a P/E/G ratio of 8.70 and a beta of 1.22.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

About Pure Storage

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.

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