Equitable Trust Co. Purchases 10,697 Shares of Pure Storage, Inc. $PSTG

Key Points

• Equitable Trust Co. increased its stake in Pure Storage, Inc. by 46.5%, acquiring an additional 10,697 shares, which brings their total holdings to 33,695 shares valued at approximately $1,940,000.
• Insiders at Pure Storage sold a total of 643,111 shares worth over $42 million in the last quarter, with significant sales from executives Dan Fitzsimons and Ajay Singh, representing 8.79% and 2.97% decreases in their respective positions.
• The stock of Pure Storage has experienced notable price movement, reaching a one-year high of $94.72 and showing a strong market capitalization of $30.37 billion.

Equitable Trust Co. boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 46.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,695 shares of the technology company's stock after acquiring an additional 10,697 shares during the period. Equitable Trust Co.'s holdings in Pure Storage were worth $1,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mechanics Financial Corp bought a new stake in shares of Pure Storage in the 2nd quarter valued at approximately $25,000. FNY Investment Advisers LLC grew its stake in shares of Pure Storage by 5,233.3% in the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after purchasing an additional 785 shares during the period. REAP Financial Group LLC grew its stake in shares of Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock valued at $35,000 after purchasing an additional 201 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at approximately $38,000. Finally, Nisa Investment Advisors LLC grew its stake 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 valued at $40,000 after purchasing an additional 239 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Insider Transactions at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,051 shares of the company's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total transaction of $528,978.42. Following the transaction, the executive owned 62,759 shares of the company's stock, valued at approximately $5,486,391.78. This represents a 8.79% 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, 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 transaction, the insider directly owned 229,307 shares in the company, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 643,111 shares of company stock worth $42,454,009 in the last quarter. 5.60% of the stock is owned by corporate insiders.

Pure Storage Price Performance

Shares of PSTG opened at $92.42 on Wednesday. The company has a market capitalization of $30.37 billion, a P/E ratio of 225.42, a PEG ratio of 8.60 and a beta of 1.22. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $94.72. The business's 50 day simple moving average is $76.26 and its 200-day simple moving average is $60.10.

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, topping the consensus estimate of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. During the same quarter in the prior year, the business earned $0.44 EPS. The business's revenue for the quarter 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. On average, sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cowen reiterated a "buy" rating on shares of Pure Storage in a research note on Thursday, August 28th. Guggenheim upped their price objective on Pure Storage from $93.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, September 26th. JPMorgan Chase & Co. upped their price objective on Pure Storage from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. UBS Group boosted 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. Finally, Needham & Company LLC boosted their target price on Pure Storage from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.06.

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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