Comerica Bank Has $21.46 Million Stock Holdings in Pure Storage, Inc. $PSTG

Key Points

• Comerica Bank increased its holdings in Pure Storage, Inc. by 11% during the first quarter, owning 484,720 shares valued at approximately $21.46 million.
• Several hedge funds, including T. Rowe Price, raised their stakes in Pure Storage, with institutional investors owning 83.42% of the company's stock.
• Wall Street analysts have mixed ratings for Pure Storage, with the consensus rating being "Moderate Buy" and a average target price around $70.11.

Comerica Bank grew its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 484,720 shares of the technology company's stock after buying an additional 48,193 shares during the quarter. Comerica Bank owned 0.15% of Pure Storage worth $21,459,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its stake in shares of Pure Storage by 25.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company's stock valued at $401,793,000 after buying an additional 1,868,782 shares in the last quarter. Blair William & Co. IL increased its position in shares of Pure Storage by 2.8% during the 1st 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 in the last quarter. Northern Trust Corp increased its position in shares of Pure Storage by 0.8% during the 1st 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Pure Storage by 3.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company's stock worth $88,992,000 after purchasing an additional 58,054 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Pure Storage by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,461,500 shares of the technology company's stock worth $64,701,000 after purchasing an additional 85,851 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PSTG shares. Wedbush reiterated an "outperform" rating and set a $70.00 target price on shares of Pure Storage in a research report on Thursday, May 29th. Citigroup increased their target price on shares of Pure Storage from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Barclays dropped their target price on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research report on Thursday, May 29th. Evercore ISI increased their target price on shares of Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen cut shares of Pure Storage from a "buy" rating to a "hold" rating in a research report on Friday. Fourteen equities research 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. Based on data from MarketBeat, Pure Storage has a consensus rating of "Moderate Buy" and a consensus price target of $70.11.

Pure Storage Stock Up 4.6%

Shares of NYSE:PSTG opened at $58.2880 on Monday. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $73.67. The company's 50-day moving average price is $56.48 and its two-hundred day moving average price is $53.38. The firm has a market cap of $19.05 billion, a P/E ratio of 157.54, a P/E/G ratio of 5.66 and a beta of 1.07.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The firm had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company's revenue was up 12.3% on a year-over-year basis. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities analysts predict 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 news, CRO Dan Fitzsimons sold 6,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $51.65, for a total value of $309,900.00. Following the transaction, the executive owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. This trade represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 261,465 shares in the company, valued at $14,498,234.25. This trade represents a 7.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 446,794 shares of company stock worth $26,641,913 over the last quarter. Company insiders own 5.60% of the company's stock.

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.

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