Cwm LLC Acquires 26,964 Shares of Pure Storage, Inc. $PSTG

Key Points

• Cwm LLC significantly increased its holdings in Pure Storage by acquiring an additional 26,964 shares, raising its total position by 324.5% to 35,273 shares, valued at approximately $2.03 million.
• Multiple institutional investors, including T. Rowe Price and Goldman Sachs, have also expanded their investments in Pure Storage, which now has 83.42% of its shares owned by institutional investors.
• Recent insider trades include John Colgrove, who sold nearly 199,000 shares for approximately $12 million, reducing his ownership by 28.44%.

Cwm LLC grew its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 324.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,273 shares of the technology company's stock after acquiring an additional 26,964 shares during the quarter. Cwm LLC's holdings in Pure Storage were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PSTG. T. Rowe Price Investment Management Inc. increased its stake in 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 worth $401,793,000 after acquiring an additional 1,868,782 shares during the last quarter. Woodline Partners LP bought a new stake in Pure Storage in the 1st quarter worth approximately $38,989,000. Nuveen LLC bought a new stake in Pure Storage in the 1st quarter worth approximately $32,410,000. Goldman Sachs Group Inc. increased its stake in Pure Storage by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company's stock worth $50,377,000 after acquiring an additional 595,307 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Pure Storage in the 1st quarter worth approximately $24,462,000. Institutional investors own 83.42% of the company's stock.

Insiders Place Their Bets

In related news, insider John Colgrove sold 198,749 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 500,000 shares in the company, valued at $30,160,000. The trade was a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 7,014 shares of the company's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the sale, the insider owned 229,307 shares of the company's stock, valued at $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 743,111 shares of company stock worth $51,703,009 in the last 90 days. 5.60% of the stock is owned by insiders.

Analyst Ratings Changes

PSTG has been the topic of a number of research reports. Piper Sandler set a $92.00 price objective on Pure Storage and gave the stock an "overweight" rating in a research note on Thursday, September 25th. Raymond James Financial lifted their target price on Pure Storage from $88.00 to $99.00 and gave the stock an "outperform" rating in a report on Friday. UBS Group lifted their target price on Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a report on Thursday, August 28th. Evercore ISI lifted their target price on Pure Storage from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Finally, Lake Street Capital lifted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Pure Storage currently has an average rating of "Moderate Buy" and an average target price of $83.06.

Pure Storage Stock Down 0.1%

PSTG opened at $91.86 on Monday. The business has a fifty day moving average of $78.32 and a 200 day moving average of $61.22. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $95.14. The stock has a market cap of $30.19 billion, a P/E ratio of 224.05, a PEG ratio of 8.47 and a beta of 1.22.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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. Equities analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Pure Storage Company 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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