IFM Investors Pty Ltd Grows Position in Pure Storage, Inc. $PSTG

Key Points

• IFM Investors Pty Ltd increased its holdings in Pure Storage, Inc. (NYSE:PSTG) by 6.2% in the second quarter, now owning 62,906 shares worth approximately $3.62 million.
• Analysts have raised their price targets for Pure Storage, with estimations ranging from $70.00 to $85.00, reflecting strong buy ratings from research firms.
• Insider trading activity included the sale of over 545,000 shares by company insiders, highlighting a notable decrease in their positions.

IFM Investors Pty Ltd raised its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,906 shares of the technology company's stock after buying an additional 3,659 shares during the period. IFM Investors Pty Ltd's holdings in Pure Storage were worth $3,622,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PSTG. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Pure Storage by 15.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,082 shares of the technology company's stock valued at $1,769,000 after purchasing an additional 4,162 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in Pure Storage during the second quarter valued at approximately $6,668,000. Wedmont Private Capital bought a new position in Pure Storage during the second quarter worth $222,000. Swedbank AB lifted its stake in Pure Storage by 216.6% during the second quarter. Swedbank AB now owns 132,930 shares of the technology company's stock worth $7,654,000 after purchasing an additional 90,947 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of Pure Storage by 120.1% during the second quarter. Baader Bank Aktiengesellschaft now owns 35,166 shares of the technology company's stock valued at $2,021,000 after acquiring an additional 19,189 shares during the period. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSTG. Barclays boosted their target price on Pure Storage from $57.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Friday, August 29th. Wedbush lifted their price target on Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Citigroup increased their price target on shares of Pure Storage from $70.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Cowen reiterated a "buy" rating on shares of Pure Storage in a research report on Thursday, August 28th. Finally, Lake Street Capital upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Fourteen research 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 MarketBeat.com, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.39.

Pure Storage Stock Up 0.2%

Shares of NYSE:PSTG traded up $0.15 on Monday, hitting $88.02. 2,436,046 shares of the company traded hands, compared to its average volume of 4,593,953. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $88.55. The company has a market cap of $28.93 billion, a PE ratio of 214.68, a PEG ratio of 8.16 and a beta of 1.20. The stock has a 50 day simple moving average of $66.42 and a 200-day simple moving average of $55.92.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.Pure Storage's revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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, CAO Mona Chu sold 17,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total value of $1,338,925.00. Following the transaction, the chief accounting officer owned 138,899 shares of the company's stock, valued at $10,627,162.49. This trade represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the business's 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 completion of the transaction, the insider owned 261,465 shares in the company, valued at $14,498,234.25. The trade was a 7.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 645,360 shares of company stock valued at $41,741,022 in the last three months. Corporate insiders own 5.60% of the company's stock.

Pure Storage Company 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.