APG Asset Management N.V. Sells 4,414 Shares of Pure Storage, Inc. $PSTG

Key Points

• APG Asset Management N.V. reduced its stake in Pure Storage, Inc. (PSTG) by 31%, selling 4,414 shares and leaving it with 9,843 shares valued at $403,000.
• Pure Storage's stock recently reached a price of $60.88, with a market cap of $19.90 billion and a twelve-month high of $73.67.
• In its latest earnings report, Pure Storage beat analysts' expectations with an EPS of $0.43; revenue increased 12.7% year-over-year to $861 million.

APG Asset Management N.V. lowered its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 31.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,843 shares of the technology company's stock after selling 4,414 shares during the period. APG Asset Management N.V.'s holdings in Pure Storage were worth $403,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of Pure Storage by 25.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company's stock worth $401,793,000 after buying an additional 1,868,782 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Pure Storage by 2.8% in the first quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company's stock worth $156,780,000 after buying an additional 96,731 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Pure Storage by 0.8% in the first quarter. Northern Trust Corp now owns 2,911,591 shares of the technology company's stock worth $128,896,000 after buying an additional 23,531 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Pure Storage by 3.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company's stock worth $88,992,000 after buying an additional 58,054 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Pure Storage by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,461,500 shares of the technology company's stock worth $64,701,000 after buying an additional 85,851 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

Pure Storage Stock Up 4.0%

Shares of Pure Storage stock opened at $60.88 on Thursday. The company has a market cap of $19.90 billion, a price-to-earnings ratio of 164.54, a price-to-earnings-growth ratio of 6.19 and a beta of 1.07. The company's 50 day moving average is $56.92 and its 200 day moving average is $53.40. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.04. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The business had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. During the same period in the prior year, the company earned $0.44 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Sell-side analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a research note on Friday, June 20th. Wall Street Zen downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Wedbush reiterated an "outperform" rating and issued a $70.00 target price on shares of Pure Storage in a research note on Thursday, May 29th. Piper Sandler reiterated an "overweight" rating and issued a $66.00 target price (up previously from $53.00) on shares of Pure Storage in a research note on Thursday, May 29th. Finally, Barclays lowered their price objective on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Pure Storage has a consensus rating of "Moderate Buy" and a consensus price target of $69.56.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 198,749 shares of the company's 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 sale, the insider directly owned 500,000 shares of the company's stock, valued at approximately $30,160,000. This represents a 28.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total transaction of $309,900.00. Following the sale, the executive directly owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 446,794 shares of company stock valued at $26,641,913 in the last ninety days. Corporate insiders own 5.60% of the company's stock.

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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