Generali Asset Management SPA SGR Trims Stock Position in Pure Storage, Inc. $PSTG

Key Points

• Generali Asset Management SPA SGR reduced its stake in Pure Storage, Inc. by 40.5%, owning 29,115 shares after selling 19,843 shares in the second quarter, valued at approximately $1.68 million.
• Several hedge funds, including Mechanics Financial Corp and REAP Financial Group LLC, recently modified their positions in Pure Storage, indicating a growing institutional interest with 83.42% of the company's stock now held by institutional investors.
• Analysts have increased price targets for Pure Storage, with a consensus target price reaching $83.06, while ratings show 14 analysts

Generali Asset Management SPA SGR trimmed its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 40.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,115 shares of the technology company's stock after selling 19,843 shares during the period. Generali Asset Management SPA SGR's holdings in Pure Storage were worth $1,676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mechanics Financial Corp purchased a new stake in Pure Storage in the second quarter worth about $25,000. REAP Financial Group LLC boosted its position in shares of Pure Storage by 49.0% during the second 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 in the last quarter. Ramirez Asset Management Inc. grew its stake in Pure Storage by 40.0% in the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company's stock worth $40,000 after purchasing an additional 200 shares during the period. American National Bank & Trust bought a new position in Pure Storage in the second quarter worth $45,000. Finally, TruNorth Capital Management LLC bought a new position in Pure Storage in the first quarter worth $38,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSTG. Northland Securities upped their target price on shares of Pure Storage from $63.00 to $71.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. Lake Street Capital upped their price objective 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. Citigroup lifted their target price on shares of Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Barclays upped their price target on Pure Storage from $57.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Friday, August 29th. Finally, Piper Sandler set a $92.00 price objective on Pure Storage and gave the company an "overweight" rating in a research note on Thursday, September 25th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.06.

Pure Storage Stock Down 0.1%

NYSE:PSTG opened at $91.86 on Friday. The stock has a market cap of $30.19 billion, a price-to-earnings ratio of 224.05, a PEG ratio of 8.54 and a beta of 1.22. The company's 50 day moving average price is $78.32 and its 200-day moving average price is $60.97. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $95.14.

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 (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $861.00 million for the quarter, compared to analysts' expectations of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Activity at Pure Storage

In other news, CRO Dan Fitzsimons sold 6,051 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the sale, the executive owned 62,759 shares of the company's stock, valued at $5,486,391.78. This trade represents a 8.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mona Chu sold 9,091 shares of Pure Storage stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total transaction of $771,916.81. Following the completion of the sale, the chief accounting officer owned 107,353 shares of the company's stock, valued at $9,115,343.23. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 743,111 shares of company stock valued at $51,703,009 over the last three months. 5.60% of the stock is owned by insiders.

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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