Caisse DE Depot ET Placement DU Quebec Makes New $3.18 Million Investment in Pure Storage, Inc. $PSTG

Key Points

• Caisse DE Depot ET Placement DU Quebec purchased 71,857 shares of Pure Storage, Inc. valued at approximately $3.18 million during the first quarter of the year.
• Pure Storage's stock price target has been lifted by multiple analysts, with some reaching as high as $88.00, reflecting strong market sentiment with a consensus rating of "Moderate Buy."
• Insiders have sold a total of 542,094 shares in the last ninety days, representing over $32 million in transactions, indicating notable insider activity at the company.

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 71,857 shares of the technology company's stock, valued at approximately $3,181,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its stake in Pure Storage by 25.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company's stock worth $401,793,000 after purchasing an additional 1,868,782 shares during the last quarter. Blair William & Co. IL lifted its stake in Pure Storage by 2.8% during the first quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company's stock worth $156,780,000 after purchasing an additional 96,731 shares during the last quarter. Northern Trust Corp lifted its stake in Pure Storage by 0.8% during the first quarter. Northern Trust Corp now owns 2,911,591 shares of the technology company's stock worth $128,896,000 after purchasing an additional 23,531 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Pure Storage by 3.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company's stock worth $88,992,000 after buying an additional 58,054 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Pure Storage by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,461,500 shares of the technology company's stock worth $64,701,000 after buying an additional 85,851 shares during the period. Institutional investors own 83.42% of the company's stock.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 198,749 shares of the company'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 transaction of $11,988,539.68. Following the transaction, the insider owned 500,000 shares in the company, valued at approximately $30,160,000. This represents a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Francis Murphy sold 11,234 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total value of $619,330.42. Following the transaction, the director owned 21,930 shares in the company, valued at $1,209,000.90. This trade represents a 33.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 542,094 shares of company stock worth $32,367,537 over the last quarter. Insiders own 5.60% of the company's stock.

Pure Storage Price Performance

NYSE:PSTG traded down $3.06 during mid-day trading on Monday, reaching $77.48. 9,351,858 shares of the company's stock traded hands, compared to its average volume of 3,529,062. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $80.68. The firm has a market capitalization of $25.32 billion, a price-to-earnings ratio of 188.99, a PEG ratio of 8.49 and a beta of 1.20. The company has a 50 day moving average price of $57.99 and a 200-day moving average price of $53.34.

Pure Storage (NYSE:PSTG - Get Free Report) last announced 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. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. During the same quarter in the previous year, the business earned $0.44 EPS. Pure Storage's revenue was up 12.7% compared to the same quarter last year. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on PSTG shares. Lake Street Capital lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday. Barclays lifted their price objective on Pure Storage from $57.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday. Needham & Company LLC lifted their price objective on Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Citigroup lifted their price objective on Pure Storage from $70.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.11.

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.