Bank Pictet & Cie Europe AG Grows Stock Holdings in Pure Storage, Inc. $PSTG

Key Points

• Bank Pictet & Cie Europe AG increased its holdings in Pure Storage, Inc. by 27.7%, reaching a total of 41,969 shares, valued at approximately $2.4 million.
• Pure Storage's stock has faced a slight decline of 1.7%, currently trading at $83.41, with a market cap of $27.41 billion and a PE ratio of 203.45.
• In its recent earnings report, Pure Storage exceeded earnings expectations at $0.43 EPS, with revenue up by 12.7% year-over-year, totaling $861 million for the quarter.

Bank Pictet & Cie Europe AG raised its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 27.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,969 shares of the technology company's stock after buying an additional 9,099 shares during the period. Bank Pictet & Cie Europe AG's holdings in Pure Storage were worth $2,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its stake in Pure Storage by 25.9% during 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 purchasing an additional 1,868,782 shares during the last quarter. Woodline Partners LP acquired a new stake in Pure Storage during the first quarter worth approximately $38,989,000. Nuveen LLC purchased a new stake in shares of Pure Storage during the 1st quarter worth approximately $32,410,000. Goldman Sachs Group Inc. boosted its holdings in shares of 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 valued at $50,377,000 after buying an additional 595,307 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Pure Storage in the 1st quarter valued at $24,462,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Pure Storage Stock Down 1.7%

PSTG opened at $83.41 on Friday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $89.10. The business has a 50 day moving average price of $68.22 and a two-hundred day moving average price of $56.59. The company has a market cap of $27.41 billion, a PE ratio of 203.45, a P/E/G ratio of 7.88 and a beta of 1.20.

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

Insider Buying and Selling

In other news, insider Ajay Singh sold 22,601 shares of Pure Storage stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total value of $1,253,225.45. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Francis Murphy sold 6,959 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $56.17, for a total transaction of $390,887.03. Following the transaction, the director directly owned 19,706 shares of the company's stock, valued at $1,106,886.02. This represents a 26.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 656,566 shares of company stock worth $42,724,053 in the last ninety days. Insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Lake Street Capital upped their target price on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. UBS Group raised their price target on Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a research note on Thursday, August 28th. Piper Sandler set a $92.00 price objective on Pure Storage and gave the company an "overweight" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Pure Storage from $70.00 to $80.00 and gave the company an "overweight" rating in a 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 company. According to MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and a consensus target price of $78.17.

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.

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