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Pure Storage, Inc. $PSTG Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Pure Storage logo with Computer and Technology background

Key Points

  • Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Pure Storage, Inc. by 10.1%, selling 7,200 shares to hold 63,900 shares valued at approximately $2.83 million.
  • Several institutional investors, including T. Rowe Price and Northern Trust Corp, have increased their holdings in Pure Storage, strengthening the company's institutional ownership to 83.42%.
  • Analyst ratings for Pure Storage are positive, with a consensus rating of "Moderate Buy" and a consensus price target of $70.21, despite some fluctuations in price objectives from various firms.
  • Want stock alerts on Pure Storage? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,900 shares of the technology company's stock after selling 7,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Pure Storage were worth $2,829,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PSTG. McIlrath & Eck LLC purchased a new position in shares of Pure Storage during the 4th quarter worth about $25,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after acquiring an additional 233 shares during the period. FNY Investment Advisers LLC lifted its holdings in shares of Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after acquiring an additional 785 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of Pure Storage during the 1st quarter worth about $38,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after acquiring an additional 239 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pure Storage news, Director John Francis Murphy sold 11,234 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total value of $619,330.42. Following the transaction, the director directly owned 21,930 shares of the company's stock, valued at $1,209,000.90. This represents a 33.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 198,749 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total value of $11,988,539.68. Following the completion of the transaction, the insider directly owned 500,000 shares in the company, valued at approximately $30,160,000. The trade was a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 446,794 shares of company stock valued at $26,641,913. Company insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Needham & Company LLC reiterated a "buy" rating and set a $75.00 target price on shares of Pure Storage in a report on Friday, June 20th. JPMorgan Chase & Co. decreased their target price on Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Citigroup boosted their target price on Pure Storage from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Piper Sandler reiterated an "overweight" rating and set a $66.00 target price (up previously from $53.00) on shares of Pure Storage in a report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and an average target price of $70.21.

Check Out Our Latest Report on Pure Storage

Pure Storage Price Performance

NYSE PSTG traded down $1.52 on Wednesday, reaching $55.70. The company had a trading volume of 1,927,772 shares, compared to its average volume of 2,691,886. The firm has a market capitalization of $18.20 billion, a PE ratio of 150.54, a P/E/G ratio of 5.56 and a beta of 1.07. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The firm has a 50-day moving average of $56.31 and a 200-day moving average of $53.74.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. The firm had revenue of $778.49 million during the quarter, compared to analysts' expectations of $770.03 million. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%.Pure Storage's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, sell-side analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

About Pure Storage

(Free Report)

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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Institutional Ownership by Quarter for Pure Storage (NYSE:PSTG)

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