Hsbc Holdings PLC Has $6.28 Million Stake in Pure Storage, Inc. $PSTG

Key Points

• Hsbc Holdings PLC has reduced its stake in Pure Storage, Inc. by 37.8%, now holding 141,952 shares valued at $6.28 million.
• Pure Storage, Inc. reported a 12.3% year-over-year revenue increase with earnings per share of $0.29 for the last quarter, exceeding analyst expectations.
• Thirteen investment analysts have rated Pure Storage as a "Moderate Buy," with a consensus price target of $69.56.

Hsbc Holdings PLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 37.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,952 shares of the technology company's stock after selling 86,422 shares during the period. Hsbc Holdings PLC's holdings in Pure Storage were worth $6,279,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. McIlrath & Eck LLC acquired a new position in shares of Pure Storage in the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after purchasing an additional 233 shares during the period. 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 buying an additional 785 shares in the last quarter. 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 buying an additional 239 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total transaction of $309,900.00. Following the completion of the sale, the executive owned 75,965 shares of the company's stock, valued at $3,923,592.25. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Francis Murphy sold 6,959 shares of the 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 represents a 26.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 446,794 shares of company stock worth $26,641,913 over the last ninety days. Company insiders own 5.60% of the company's stock.

Pure Storage Stock Up 1.3%

Shares of Pure Storage stock opened at $59.06 on Tuesday. The stock has a market capitalization of $19.30 billion, a P/E ratio of 159.63, a PEG ratio of 5.66 and a beta of 1.07. The stock has a 50 day moving average price of $56.63 and a two-hundred day moving average price of $53.31. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) 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%.The company's revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. Sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

PSTG has been the subject of several recent research reports. Piper Sandler reissued an "overweight" rating and issued a $66.00 price target (up previously from $53.00) on shares of Pure Storage in a research note on Thursday, May 29th. Morgan Stanley initiated coverage on Pure Storage in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $60.00 price target for the company. Needham & Company LLC reissued a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a research note on Friday, June 20th. Wedbush reissued an "outperform" rating and issued a $70.00 price target on shares of Pure Storage in a research note on Thursday, May 29th. Finally, Wall Street Zen cut Pure Storage from a "buy" rating to a "hold" rating in a research note on Friday. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $69.56.

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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