BI Asset Management Fondsmaeglerselskab A S Sells 22,495 Shares of Pure Storage, Inc. $PSTG

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Pure Storage, Inc. by 67.4%, selling 22,495 shares and holding 10,900 shares valued at $483,000 as of its latest SEC filing.
• Several institutional investors, including MassMutual Private Wealth & Trust FSB and FNY Investment Advisers LLC, made significant changes to their holdings in Pure Storage this quarter, highlighting active investor interest.
• Pure Storage's stock opened at $58.29, has a market capitalization of $19.05 billion, and recently reported earnings per share of $0.29, exceeding analyst expectations and showing a revenue increase of 12.3% year-over-year.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 67.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,900 shares of the technology company's stock after selling 22,495 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Pure Storage were worth $483,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. McIlrath & Eck LLC acquired a new position in shares of Pure Storage in the 4th quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after purchasing an additional 233 shares during the period. FNY Investment Advisers LLC lifted its position in shares of Pure Storage by 5,233.3% in the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after purchasing an additional 785 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of Pure Storage in the 1st quarter worth approximately $38,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Pure Storage by 35.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after purchasing an additional 239 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSTG has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday. Wall Street Zen downgraded shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Lake Street Capital boosted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley boosted their price target on shares of Pure Storage from $60.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Needham & Company LLC lifted their price objective on shares of Pure Storage from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.22.

Pure Storage Price Performance

Shares of NYSE:PSTG traded up $18.41 during mid-day trading on Thursday, hitting $79.27. The company had a trading volume of 16,963,664 shares, compared to its average volume of 2,795,796. The firm has a fifty day moving average price of $56.92 and a 200 day moving average price of $53.40. The company has a market capitalization of $25.91 billion, a PE ratio of 214.24, a price-to-earnings-growth ratio of 6.19 and a beta of 1.07. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $80.51.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.04. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. Pure Storage's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business 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.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 22,601 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the sale, the insider owned 261,465 shares in the company, valued at approximately $14,498,234.25. The trade was a 7.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 6,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total transaction of $309,900.00. Following the sale, the executive owned 75,965 shares of the company's stock, valued at $3,923,592.25. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 446,794 shares of company stock worth $26,641,913. Company insiders own 5.60% of the company's stock.

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.