Amundi Sells 330,439 Shares of Pure Storage, Inc. $PSTG

Key Points

• Amundi reduced its stake in Pure Storage, Inc. by 7.1%, now holding approximately 1.32% of the company, following a sale of 330,439 shares.
• Wall Street analysts have positively revised their target prices for Pure Storage, with Citigroup and JPMorgan increasing theirs to $81.00 and $80.00 respectively.
• Insider transactions included a notable sale of 6,959 shares by Director John Francis Murphy, reflecting a decrease in his ownership by 26.10%.

Amundi cut its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 7.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,310,630 shares of the technology company's stock after selling 330,439 shares during the quarter. Amundi owned 1.32% of Pure Storage worth $176,089,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG grew its stake in Pure Storage by 23.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company's stock worth $565,000 after purchasing an additional 1,740 shares during the period. Captrust Financial Advisors lifted its position in shares of Pure Storage by 14.3% during the 4th quarter. Captrust Financial Advisors now owns 68,706 shares of the technology company's stock valued at $4,221,000 after buying an additional 8,594 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Pure Storage by 10.4% during the 4th quarter. Cetera Investment Advisers now owns 73,268 shares of the technology company's stock valued at $4,501,000 after buying an additional 6,909 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Pure Storage by 48.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 111,140 shares of the technology company's stock worth $6,827,000 after buying an additional 36,520 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Pure Storage by 11.1% in the 4th quarter. Deutsche Bank AG now owns 605,553 shares of the technology company's stock valued at $37,199,000 after acquiring an additional 60,280 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSTG has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Guggenheim reissued a "buy" rating and issued a $93.00 target price on shares of Pure Storage in a research note on Thursday, August 28th. UBS Group raised their price target on shares of Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Finally, Wedbush boosted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $77.39.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 95,300 shares of Pure Storage stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $60.08, for a total value of $5,725,624.00. Following the completion of the sale, the insider directly owned 400,000 shares in the company, valued at $24,032,000. The trade was a 19.24% 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 Ajay Singh sold 22,601 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the transaction, the insider owned 261,465 shares of the company's stock, valued at approximately $14,498,234.25. This represents a 7.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 551,360 shares of company stock worth $33,317,922. 5.60% of the stock is currently owned by company insiders.

Pure Storage Trading Up 1.7%

Shares of NYSE PSTG traded up $1.36 during midday trading on Wednesday, reaching $80.57. 1,309,473 shares of the company were exchanged, compared to its average volume of 2,871,967. The stock has a market cap of $26.33 billion, a P/E ratio of 196.97, a PEG ratio of 7.43 and a beta of 1.20. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $82.51. The stock has a fifty day simple moving average of $61.24 and a 200 day simple moving average of $53.97.

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 for the quarter, compared to the consensus estimate of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.