Dynamic Technology Lab Private Ltd Acquires New Shares in Pure Storage, Inc. $PSTG

Key Points

• Dynamic Technology Lab Private Ltd has acquired 17,602 new shares in Pure Storage, Inc. ($PSTG), valued at approximately $779,000, adding to a trend of institutional investments in the company.
• Insider trading activity was noted, with CAO Mona Chu selling 17,500 shares for over $1.3 million, representing an 11.19% reduction in her holdings.
• Research analysts are optimistic, with several upgrading their ratings and price targets for Pure Storage, resulting in a consensus rating of "Moderate Buy" and a target price of $77.39.

Dynamic Technology Lab Private Ltd bought a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 17,602 shares of the technology company's stock, valued at approximately $779,000.

Other large investors have also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG increased its stake in shares of Pure Storage by 23.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company's stock valued at $565,000 after buying an additional 1,740 shares during the period. Cetera Investment Advisers grew its holdings in Pure Storage by 10.4% during the 4th quarter. Cetera Investment Advisers now owns 73,268 shares of the technology company's stock worth $4,501,000 after acquiring an additional 6,909 shares during the last quarter. Deutsche Bank AG increased its position in Pure Storage by 11.1% in the 4th quarter. Deutsche Bank AG now owns 605,553 shares of the technology company's stock valued at $37,199,000 after acquiring an additional 60,280 shares during the period. Ethic Inc. bought a new position in shares of Pure Storage during the fourth quarter valued at $962,000. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Pure Storage by 42.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 152,019 shares of the technology company's stock worth $9,339,000 after purchasing an additional 45,208 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Mona Chu sold 17,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the transaction, the chief accounting officer directly owned 138,899 shares of the company's stock, valued at approximately $10,627,162.49. This represents a 11.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Francis Murphy sold 6,959 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $56.17, for a total value of $390,887.03. Following the completion of the sale, the director directly owned 19,706 shares of the company's stock, valued at $1,106,886.02. This trade represents a 26.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 551,360 shares of company stock valued at $33,317,922. Corporate insiders own 5.60% of the company's stock.

Pure Storage Stock Performance

Shares of PSTG opened at $79.48 on Tuesday. The firm has a market cap of $25.98 billion, a PE ratio of 193.86, a price-to-earnings-growth ratio of 7.40 and a beta of 1.20. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $80.68. The business's 50 day moving average price is $60.76 and its two-hundred day moving average price is $53.79.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. Pure Storage's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays raised their target price on Pure Storage from $57.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Friday, August 29th. Lake Street Capital raised their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Cowen reissued a "buy" rating on shares of Pure Storage in a research report on Thursday, August 28th. Finally, Needham & Company LLC boosted their price target on shares of Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.39.

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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