Counterpoint Mutual Funds LLC Makes New Investment in Pure Storage, Inc. $PSTG

Key Points

• Counterpoint Mutual Funds LLC has acquired a new stake in Pure Storage, Inc. (NYSE:PSTG), purchasing 5,201 shares valued at approximately $299,000.
• Several institutional investors, including T. Rowe Price and Goldman Sachs, have increased or established significant positions in Pure Storage, with institutional ownership now at 83.42%.
• Pure Storage reported a 12.7% year-over-year revenue increase, with earnings per share of $0.43 for the latest quarter, surpassing analysts' expectations.

Counterpoint Mutual Funds LLC bought a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,201 shares of the technology company's stock, valued at approximately $299,000.

A number of other institutional investors have also modified their holdings of PSTG. T. Rowe Price Investment Management Inc. increased its holdings in shares of Pure Storage by 25.9% in the first 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 purchasing an additional 1,868,782 shares during the period. Woodline Partners LP acquired a new position in shares of Pure Storage in the first quarter valued at approximately $38,989,000. Nuveen LLC acquired a new position in shares of Pure Storage in the first quarter valued at approximately $32,410,000. Goldman Sachs Group Inc. increased its holdings in shares of Pure Storage by 109.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company's stock valued at $50,377,000 after purchasing an additional 595,307 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Pure Storage in the first quarter valued at approximately $24,462,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 5,155 shares of the business's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $88.08, for a total transaction of $454,052.40. Following the sale, the chief accounting officer directly owned 116,444 shares in the company, valued at approximately $10,256,387.52. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $87.33, for a total value of $8,733,000.00. Following the sale, the insider owned 300,000 shares in the company, valued at approximately $26,199,000. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 656,566 shares of company stock valued at $42,724,053 in the last 90 days. 5.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PSTG shares. Lake Street Capital boosted their target price on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Citigroup boosted 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. Northland Securities boosted their target price on Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. UBS Group lifted their price target on Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a research note on Thursday, August 28th. Finally, Guggenheim restated a "buy" rating and issued a $93.00 price target on shares of Pure Storage in a research note on Thursday, August 28th. Fourteen 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.39.

Pure Storage Price Performance

Pure Storage stock opened at $84.93 on Thursday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $89.10. The company has a market cap of $27.91 billion, a PE ratio of 207.15, a price-to-earnings-growth ratio of 8.20 and a beta of 1.20. The stock's 50 day moving average price is $67.70 and its 200 day moving average price is $56.35.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. The company had revenue of $861.00 million for 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%.Pure Storage's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

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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