Pure Storage, Inc. $PSTG Stock Position Raised by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft increased its stake in Pure Storage, Inc. by 120.1% during Q2, now holding 35,166 shares worth $2,021,000.
• Analysts have raised their target prices for Pure Storage, with estimates ranging from $55.00 to $80.00, indicating a generally positive outlook on the stock.
• Insider John Colgrove sold 198,749 shares of Pure Storage, significantly reducing his ownership, while insiders have sold a total of $33.3 million worth of shares over the last 90 days.

Baader Bank Aktiengesellschaft raised its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 120.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,166 shares of the technology company's stock after buying an additional 19,189 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Pure Storage were worth $2,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSTG. Bank Pictet & Cie Europe AG raised 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 valued at $565,000 after buying an additional 1,740 shares in the last quarter. ProShare Advisors LLC raised its stake in Pure Storage by 8.8% during the fourth quarter. ProShare Advisors LLC now owns 15,899 shares of the technology company's stock valued at $977,000 after buying an additional 1,288 shares in the last quarter. Royal Bank of Canada raised its position in shares of Pure Storage by 50.1% during the 4th quarter. Royal Bank of Canada now owns 1,118,679 shares of the technology company's stock worth $68,721,000 after purchasing an additional 373,505 shares during the period. Toronto Dominion Bank raised its position in shares of Pure Storage by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 40,705 shares of the technology company's stock worth $2,500,000 after purchasing an additional 429 shares during the period. Finally, Vident Advisory LLC grew its stake in Pure Storage by 10.0% during the 4th quarter. Vident Advisory LLC now owns 40,555 shares of the technology company's stock worth $2,491,000 after buying an additional 3,695 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity at Pure Storage

In other news, insider John Colgrove sold 198,749 shares of Pure Storage stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the transaction, the insider directly owned 500,000 shares in the company, valued at approximately $30,160,000. This trade represents a 28.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Francis Murphy sold 6,959 shares of Pure Storage stock in a transaction on Friday, July 11th. The shares were sold at an average price of $56.17, for a total value of $390,887.03. Following the transaction, the director owned 19,706 shares in the company, valued at approximately $1,106,886.02. This trade represents a 26.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 645,360 shares of company stock worth $41,741,022 in the last quarter. Company insiders own 5.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC increased their target price on Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Bank of America increased 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. Morgan Stanley increased their target price on Pure Storage from $60.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 28th. Northland Securities increased their target price on Pure Storage from $63.00 to $71.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. Finally, Raymond James Financial increased their target price on Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Pure Storage has an average rating of "Moderate Buy" and an average price target of $77.39.

Pure Storage Trading Up 0.2%

PSTG traded up $0.15 during trading hours on Monday, hitting $88.02. The company's stock had a trading volume of 2,436,046 shares, compared to its average volume of 4,593,953. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $88.55. The firm has a market capitalization of $28.93 billion, a PE ratio of 214.68, a PEG ratio of 8.16 and a beta of 1.20. The company has a 50-day simple moving average of $66.42 and a 200 day simple moving average of $55.92.

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 (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $861.00 million for the quarter, compared to analysts' expectations of $845.78 million. During the same period last year, the firm earned $0.44 EPS. The firm's revenue for the quarter 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. Research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal 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.