Ascent Group LLC Has $463,000 Stock Position in Pure Storage, Inc. $PSTG

Key Points

• Ascent Group LLC increased its stake in Pure Storage, Inc. by 107.1% during the first quarter, owning 10,465 shares valued at $463,000 at the end of the reporting period.
• Several hedge funds modified their holdings in Pure Storage, with notable increases from Goldman Sachs Group Inc. and Fred Alger Management LLC, indicating strong institutional interest in the company.
• Research analysts have recently raised their target prices for Pure Storage, with expected growth reflected in a consensus rating of "Moderate Buy" and a target price of $77.39.

Ascent Group LLC boosted its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 107.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,465 shares of the technology company's stock after buying an additional 5,411 shares during the period. Ascent Group LLC's holdings in Pure Storage were worth $463,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fred Alger Management LLC acquired a new stake in shares of Pure Storage in the first quarter worth $5,039,000. Goldman Sachs Group Inc. grew its position in Pure Storage by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company's stock worth $50,377,000 after purchasing an additional 595,307 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Pure Storage during the 1st quarter worth about $779,000. Needham Investment Management LLC acquired a new position in shares of Pure Storage during the first quarter valued at about $885,000. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in shares of Pure Storage by 0.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 37,866 shares of the technology company's stock valued at $1,676,000 after buying an additional 265 shares during the period. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 6,000 shares of the stock in a transaction dated 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 owned 75,965 shares of the company's stock, valued at $3,923,592.25. This represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the firm's stock in a transaction dated 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 sale, the insider owned 261,465 shares of the company's stock, valued at $14,498,234.25. The trade was a 7.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 551,360 shares of company stock valued at $33,317,922. Insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PSTG shares. Bank of America raised their target price on Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Wedbush increased their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Raymond James Financial raised their price target on shares of Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Finally, Evercore ISI increased their target price on Pure Storage from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.39.

Pure Storage Stock Performance

Shares of NYSE PSTG traded down $0.12 during mid-day trading on Friday, hitting $82.34. 1,776,369 shares of the stock were exchanged, compared to its average volume of 4,094,776. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $83.32. The stock's fifty day simple moving average is $62.77 and its two-hundred day simple moving average is $54.38. The company has a market cap of $26.91 billion, a P/E ratio of 200.83, a PEG ratio of 7.71 and a beta of 1.20.

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, topping 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 return on equity of 11.34% and a net margin of 4.15%.Pure Storage's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal 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.