AQR Capital Management LLC Grows Stock Holdings in Pure Storage, Inc. $PSTG

AQR Capital Management LLC lifted its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 86.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 749,999 shares of the technology company's stock after acquiring an additional 347,405 shares during the period. AQR Capital Management LLC owned 0.23% of Pure Storage worth $33,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. McIlrath & Eck LLC acquired a new stake in Pure Storage during the 4th quarter worth about $25,000. MassMutual Private Wealth & Trust FSB grew its position in Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after purchasing an additional 233 shares during the period. FNY Investment Advisers LLC grew its position in Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after purchasing an additional 785 shares during the period. TruNorth Capital Management LLC acquired a new stake in Pure Storage during the 1st quarter worth about $38,000. Finally, Nisa Investment Advisors LLC grew its position in Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after purchasing an additional 239 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Price Performance

Pure Storage stock traded up $0.10 during midday trading on Friday, reaching $82.56. The company had a trading volume of 532,172 shares, compared to its average volume of 2,875,013. The company has a market capitalization of $26.98 billion, a P/E ratio of 201.36, a P/E/G ratio of 7.58 and a beta of 1.20. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $83.32. The firm's fifty day simple moving average is $62.26 and its 200-day simple moving average is $54.29.

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

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $51.65, for a total value of $309,900.00. Following the transaction, the executive directly owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. This trade represents a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 198,749 shares of the firm's stock in a transaction dated 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 in the company, valued at $30,160,000. This represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 551,360 shares of company stock worth $33,317,922 in the last three months. 5.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Cowen reaffirmed a "buy" rating on shares of Pure Storage in a research report on Thursday, August 28th. Needham & Company LLC increased their price target on Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Raymond James Financial increased their price target on Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Piper Sandler increased their target price on shares of Pure Storage from $66.00 to $78.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Finally, Northland Securities increased their target price on shares of Pure Storage from $63.00 to $71.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.39.

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.