Bayforest Capital Ltd trimmed its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 70.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,746 shares of the technology company's stock after selling 4,075 shares during the quarter. Bayforest Capital Ltd's holdings in Pure Storage were worth $101,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC lifted its position in Pure Storage by 22.6% during the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company's stock valued at $5,240,000 after buying an additional 21,812 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Pure Storage by 13.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company's stock valued at $12,209,000 after acquiring an additional 32,611 shares in the last quarter. Crumly & Associates Inc. purchased a new stake in Pure Storage during the 2nd quarter worth $242,000. Michael S. Ryan Inc. acquired a new stake in Pure Storage in the 2nd quarter valued at $254,000. Finally, D.A. Davidson & CO. raised its position in Pure Storage by 7.7% in the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company's stock valued at $310,000 after purchasing an additional 500 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.
Pure Storage Price Performance
PSTG opened at $91.86 on Friday. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $95.14. The stock has a market capitalization of $30.19 billion, a PE ratio of 224.05, a P/E/G ratio of 8.54 and a beta of 1.22. The firm's fifty day moving average price is $78.32 and its 200 day moving average price is $60.97.
Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly 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 analysts' expectations of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Pure Storage news, Director Roxanne Taylor sold 3,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total transaction of $230,790.00. Following the sale, the director directly owned 16,343 shares of the company's stock, valued at approximately $1,257,266.99. This represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $92.49, for a total transaction of $9,249,000.00. Following the completion of the transaction, the insider owned 200,000 shares in the company, valued at approximately $18,498,000. The trade was a 33.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 743,111 shares of company stock worth $51,703,009. Corporate insiders own 5.60% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on PSTG shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Pure Storage in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. Wedbush upped their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Barclays lifted their price target on shares of Pure Storage from $57.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, August 29th. Finally, Raymond James Financial raised their target price on Pure Storage from $88.00 to $99.00 and gave the company an "outperform" rating in a research note on Friday. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.06.
Read Our Latest Stock Report on Pure Storage
About Pure Storage
(
Free Report)
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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