Fiduciary Alliance LLC Invests $615,000 in Pure Storage, Inc. $PSTG

Key Points

• Fiduciary Alliance LLC invested approximately $615,000 in Pure Storage, acquiring 10,685 shares in the second quarter, indicating confidence in the company's growth potential.
• Pure Storage's stock is currently down 1.5% and has a market cap of $28.05 billion, with shares opening at $85.81.
• Recent analyst upgrades reflect positive sentiment, with multiple firms raising their price targets for Pure Storage, suggesting a consensus rating of "Moderate Buy".

Fiduciary Alliance LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,685 shares of the technology company's stock, valued at approximately $615,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC increased its position in shares of Pure Storage by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company's stock worth $212,000 after buying an additional 194 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after buying an additional 233 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after buying an additional 239 shares during the period. Mutual Advisors LLC increased its position in shares of Pure Storage by 5.1% during the first quarter. Mutual Advisors LLC now owns 5,173 shares of the technology company's stock worth $236,000 after buying an additional 252 shares during the period. Finally, MBM Wealth Consultants LLC increased its position in shares of Pure Storage by 2.3% during the first quarter. MBM Wealth Consultants LLC now owns 11,372 shares of the technology company's stock worth $503,000 after buying an additional 252 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Analysts Set New Price Targets

PSTG has been the subject of a number of research reports. Northland Securities raised their price target on shares of Pure Storage from $63.00 to $71.00 and gave the stock a "market perform" rating in a report on Thursday, August 28th. UBS Group raised their price target on shares of Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a report on Thursday, August 28th. Wedbush raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Finally, Lake Street Capital raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.39.

Pure Storage Trading Up 0.8%

Shares of PSTG traded up $0.66 during trading hours on Friday, reaching $87.72. 4,828,704 shares of the stock traded hands, compared to its average volume of 2,908,173. The stock has a fifty day simple moving average of $65.12 and a 200 day simple moving average of $55.32. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $88.01. The company has a market cap of $28.67 billion, a price-to-earnings ratio of 213.96, a PEG ratio of 8.02 and a beta of 1.20.

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

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 22,601 shares of Pure Storage stock in a transaction dated 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 approximately $14,498,234.25. The trade was a 7.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Francis Murphy sold 6,959 shares of Pure Storage stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $56.17, for a total transaction of $390,887.03. Following the completion of the sale, the director directly owned 19,706 shares in the company, valued at approximately $1,106,886.02. This represents a 26.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 551,360 shares of company stock valued at $33,317,922 over the last three months. Insiders own 5.60% of the company's stock.

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.