Bayforest Capital Ltd Acquires New Position in Pure Storage, Inc. $PSTG

Key Points

• Bayforest Capital Ltd has invested approximately $258,000 in Pure Storage, acquiring 5,821 shares of the company's stock in the first quarter.
• Institutional investors and hedge funds collectively own 83.42% of Pure Storage's stock, indicating strong institutional interest.
• Pure Storage recently reported a quarterly revenue of $861 million, exceeding analyst expectations and reflecting a 12.7% year-over-year increase.

Bayforest Capital Ltd purchased a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,821 shares of the technology company's stock, valued at approximately $258,000.

A number of other hedge funds have also bought and sold shares of PSTG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Pure Storage by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,537,264 shares of the technology company's stock worth $112,325,000 after purchasing an additional 47,584 shares during the period. Woodline Partners LP purchased a new stake in shares of Pure Storage in the first quarter worth approximately $38,989,000. Empowered Funds LLC lifted its stake in shares of Pure Storage by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company's stock worth $212,000 after acquiring an additional 194 shares during the last quarter. Ascent Group LLC lifted its stake in shares of Pure Storage by 107.1% during the 1st quarter. Ascent Group LLC now owns 10,465 shares of the technology company's stock worth $463,000 after acquiring an additional 5,411 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in Pure Storage during the 1st quarter valued at $5,039,000. Institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

NYSE PSTG traded down $0.12 during trading hours on Friday, reaching $82.34. The company's stock had a trading volume of 1,776,369 shares, compared to its average volume of 4,080,273. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $83.32. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of 200.83, a P/E/G ratio of 7.69 and a beta of 1.20. The company's 50-day moving average is $62.77 and its two-hundred day moving average is $54.39.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly 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. The firm 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 firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

PSTG has been the subject of a number of research reports. UBS Group upped their price objective on shares of 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 boosted their price target on Pure Storage from $66.00 to $78.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. 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 note on Thursday, August 28th. Raymond James Financial raised their price objective on Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Finally, Guggenheim reaffirmed a "buy" rating and set a $93.00 target price on shares of Pure Storage in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.39.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,000 shares of Pure Storage stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the sale, the executive directly owned 75,965 shares in the company, valued at approximately $3,923,592.25. The trade was a 7.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Colgrove sold 198,749 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $60.32, for a total value of $11,988,539.68. Following the sale, the insider owned 500,000 shares of the company's stock, valued at approximately $30,160,000. This trade 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.

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.