Corebridge Financial Inc. Sells 10,042 Shares of Pure Storage, Inc. $PSTG

Key Points

• Corebridge Financial Inc. has reduced its ownership in Pure Storage, Inc. by 10,042 shares, resulting in a total holding of 345,255 shares, valued at approximately $15.3 million.
• Pure Storage reported a quarterly revenue of $778.49 million, which exceeds analysts' expectations and reflects a 12.3% increase year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" with an average price target of $69.56 for Pure Storage, despite some recent downgrades from various firms.

Corebridge Financial Inc. trimmed its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,255 shares of the technology company's stock after selling 10,042 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Pure Storage worth $15,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PSTG. MassMutual Private Wealth & Trust FSB grew 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 buying an additional 233 shares during the last quarter. Nisa Investment Advisors LLC grew 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 buying an additional 239 shares during the last quarter. Mutual Advisors LLC grew its position in shares of Pure Storage by 5.1% in the 1st quarter. Mutual Advisors LLC now owns 5,173 shares of the technology company's stock worth $236,000 after buying an additional 252 shares during the last quarter. MBM Wealth Consultants LLC grew its position in shares of Pure Storage by 2.3% in the 1st quarter. MBM Wealth Consultants LLC now owns 11,372 shares of the technology company's stock worth $503,000 after buying an additional 252 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in shares of Pure Storage by 0.9% in the 1st quarter. Citizens Financial Group Inc. RI now owns 29,481 shares of the technology company's stock worth $1,305,000 after buying an additional 261 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Price Performance

PSTG stock opened at $59.06 on Tuesday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The stock has a market capitalization of $19.30 billion, a P/E ratio of 159.63, a P/E/G ratio of 5.66 and a beta of 1.07. The business has a fifty day moving average price of $56.63 and a 200-day moving average price of $53.31.

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 the consensus estimate of $0.25 by $0.04. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%.The company had revenue of $778.49 million during the quarter, compared to analyst estimates of $770.03 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. Pure Storage's revenue was up 12.3% compared to the same quarter last year. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Transactions at Pure Storage

In related news, Director John Francis Murphy sold 6,959 shares of Pure Storage stock in a transaction on Friday, July 11th. The stock was sold at an average price of $56.17, for a total value of $390,887.03. Following the completion of the sale, the director owned 19,706 shares of the company's stock, valued at $1,106,886.02. The trade was a 26.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Dan Fitzsimons sold 6,000 shares of Pure Storage stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the completion of the sale, the executive directly owned 75,965 shares of the company's stock, valued at $3,923,592.25. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 446,794 shares of company stock worth $26,641,913. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of recent analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $66.00 price objective (up from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. Needham & Company LLC restated a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a research note on Friday, June 20th. Wall Street Zen cut Pure Storage from a "buy" rating to a "hold" rating in a research note on Friday. Morgan Stanley began coverage on Pure Storage in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $60.00 target price for the company. Finally, Barclays lowered their target price on Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $69.56.

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.

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