Banque Pictet & Cie SA Increases Stock Holdings in Pure Storage, Inc. $PSTG

Key Points

• Banque Pictet & Cie SA increased its holdings in Pure Storage, Inc. by 33.7% during Q2, owning 228,534 shares valued at approximately $13.16 million.
• Institutional investors hold 83.42% of Pure Storage stock, with notable increases in holdings by Public Employees Retirement System of Ohio and Norden Group LLC.
• Pure Storage reported earnings of $0.43 per share, exceeding expectations, with a revenue of $861 million for the quarter, representing a 12.7% year-over-year growth.

Banque Pictet & Cie SA lifted its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 33.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,534 shares of the technology company's stock after acquiring an additional 57,644 shares during the period. Banque Pictet & Cie SA owned 0.07% of Pure Storage worth $13,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in Pure Storage by 2.0% in the second quarter. Public Employees Retirement System of Ohio now owns 96,919 shares of the technology company's stock valued at $5,581,000 after buying an additional 1,934 shares during the last quarter. Norden Group LLC lifted its holdings in shares of Pure Storage by 14.9% in the 2nd quarter. Norden Group LLC now owns 18,887 shares of the technology company's stock valued at $1,088,000 after purchasing an additional 2,448 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Pure Storage in the second quarter valued at approximately $299,000. GAMMA Investing LLC boosted its stake in Pure Storage by 16.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,935 shares of the technology company's stock worth $342,000 after purchasing an additional 817 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Pure Storage by 12.1% during the second quarter. Farther Finance Advisors LLC now owns 2,954 shares of the technology company's stock worth $170,000 after buying an additional 320 shares during the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In related news, Director John Francis Murphy sold 6,959 shares of Pure Storage stock in a transaction on Friday, July 11th. The stock was sold at an average price of $56.17, for a total transaction of $390,887.03. Following the completion of the sale, the director owned 19,706 shares of the company's stock, valued at approximately $1,106,886.02. This trade represents a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 6,051 shares of Pure Storage stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the completion of the sale, the executive owned 62,759 shares of the company's stock, valued at $5,486,391.78. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 656,566 shares of company stock worth $42,724,053. 5.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PSTG. Guggenheim reiterated a "buy" rating and set a $93.00 price target on shares of Pure Storage in a research note on Thursday, August 28th. Barclays upped their price objective on shares of Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Cowen reaffirmed a "buy" rating on shares of Pure Storage in a research report on Thursday, August 28th. Morgan Stanley raised their price target on shares of Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, August 28th. Finally, Evercore ISI boosted their price objective on Pure Storage from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.17.

Pure Storage Trading Down 1.7%

Pure Storage stock opened at $83.41 on Friday. The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 203.45, a PEG ratio of 7.88 and a beta of 1.20. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $89.10. The company's 50-day moving average price is $68.22 and its two-hundred day moving average price is $56.59.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $861.00 million for the quarter, compared to analysts' expectations of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The business's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. 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.

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