Blair William & Co. IL Cuts Stock Holdings in Pure Storage, Inc. $PSTG

Key Points

• Blair William & Co. IL reduced its holdings in Pure Storage, Inc. by 11.8%, selling 416,903 shares during the second quarter, and now owns 3,124,542 shares valued at approximately $179.91 million.
• Insider trading activity included significant sales, with CAO Mona Chu selling 9,091 shares for about $771,917 and CRO Dan Fitzsimons selling 6,051 shares for around $528,978.
• Pure Storage's stock recently saw a 6.0% increase and is trading near its 52-week high, with analysts maintaining a consensus rating of "Moderate Buy" and a target price averaging $81.06.

Blair William & Co. IL cut its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 11.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,124,542 shares of the technology company's stock after selling 416,903 shares during the period. Blair William & Co. IL owned 0.96% of Pure Storage worth $179,911,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC raised its stake in shares of Pure Storage by 22.6% during the 1st quarter. LPL Financial LLC now owns 118,368 shares of the technology company's stock worth $5,240,000 after buying an additional 21,812 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Pure Storage by 13.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company's stock valued at $12,209,000 after purchasing an additional 32,611 shares in the last quarter. Crumly & Associates Inc. acquired a new position in shares of Pure Storage during the 2nd quarter worth about $242,000. Michael S. Ryan Inc. acquired a new stake in Pure Storage in the 2nd quarter worth about $254,000. Finally, D.A. Davidson & CO. raised its holdings in shares of Pure Storage by 7.7% during the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company's stock valued at $310,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 9,091 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the sale, the chief accounting officer owned 107,353 shares of the company's stock, valued at $9,115,343.23. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Dan Fitzsimons sold 6,051 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the transaction, the executive owned 62,759 shares of the company's stock, valued at approximately $5,486,391.78. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,070 shares of company stock worth $42,844,896. Insiders own 5.60% of the company's stock.

Pure Storage Stock Up 6.0%

NYSE:PSTG opened at $93.15 on Thursday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $93.99. The stock's fifty day moving average is $73.43 and its two-hundred day moving average is $58.88. The company has a market capitalization of $30.61 billion, a P/E ratio of 227.20, a P/E/G ratio of 8.17 and a beta of 1.22.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. The firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company's quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PSTG shares. Cowen reaffirmed a "buy" rating on shares of Pure Storage in a research note on Thursday, August 28th. Wells Fargo & Company upped their price target on Pure Storage from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Pure Storage in a report on Wednesday. Morgan Stanley boosted their price objective on Pure Storage from $60.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 28th. Finally, Citigroup upped their target price on Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $81.06.

Pure Storage 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.