CW Advisors LLC Reduces Stock Holdings in Pure Storage, Inc. $PSTG

Key Points

• CW Advisors LLC has reduced its stake in Pure Storage, Inc. by 14.1%, now holding 208,461 shares worth approximately $9.23 million.
• Several large investors, including T. Rowe Price and Charles Schwab, have increased their holdings in Pure Storage, indicating strong institutional interest.
• Pure Storage reported a net profit margin of 3.93% with earnings per share of $0.29, surpassing analysts' expectations for the quarter.

CW Advisors LLC reduced its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 14.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 208,461 shares of the technology company's stock after selling 34,212 shares during the period. CW Advisors LLC owned about 0.06% of Pure Storage worth $9,229,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. boosted its holdings 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 acquiring an additional 1,868,782 shares during the last quarter. Blair William & Co. IL boosted its holdings 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 buying an additional 96,731 shares in the last quarter. Northern Trust Corp boosted its holdings 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 buying an additional 23,531 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Pure Storage by 3.0% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Pure Storage by 6.2% during 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 in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Stock Up 4.6%

Shares of NYSE:PSTG opened at $58.2880 on Friday. The firm's 50 day moving average price is $56.48 and its 200 day moving average price is $53.61. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 157.54, a price-to-earnings-growth ratio of 5.28 and a beta of 1.07. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm had revenue of $778.49 million for the quarter, compared to analysts' expectations of $770.03 million. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The firm's revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Activity

In related news, insider Ajay Singh sold 22,601 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total value of $1,253,225.45. Following the sale, the insider owned 261,465 shares of the company's stock, valued at $14,498,234.25. This trade represents a 7.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Dan Fitzsimons sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total transaction of $309,900.00. Following the completion of the sale, the executive directly owned 75,965 shares in the company, valued at approximately $3,923,592.25. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 446,794 shares of company stock worth $26,641,913 in the last ninety days. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PSTG shares. Evercore ISI increased their price target on shares of Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Citigroup increased their price target on shares of Pure Storage from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Wedbush reissued an "outperform" rating and set a $70.00 price target on shares of Pure Storage in a report on Thursday, May 29th. Piper Sandler restated an "overweight" rating and set a $66.00 price objective (up from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $75.00 target price on shares of Pure Storage in a research report on Friday, June 20th. Fourteen research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.11.

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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