Inspire Investing LLC Purchases New Shares in Pure Storage, Inc. $PSTG

Key Points

• Inspire Investing LLC has acquired a new stake in Pure Storage, Inc., purchasing 39,657 shares valued at approximately $1.76 million in Q1.
• Institutional ownership of Pure Storage is significant, with 83.42% of the stock held by institutional investors, including T. Rowe Price and UBS Asset Management, which have increased their stakes.
• Several analysts have upgraded their ratings on Pure Storage, with a consensus rating of "Moderate Buy" and an average price target of $77.39.

Inspire Investing LLC bought a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 39,657 shares of the technology company's stock, valued at approximately $1,756,000.

Several other large investors have also recently bought and sold shares of PSTG. McIlrath & Eck LLC acquired a new position in shares of Pure Storage during the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB lifted its position 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 buying an additional 233 shares during the period. FNY Investment Advisers LLC lifted its position 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 buying an additional 785 shares during the period. TruNorth Capital Management LLC bought a new position in shares of Pure Storage during the 1st quarter worth approximately $38,000. Finally, Nisa Investment Advisors LLC lifted its position 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 buying an additional 239 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wedbush raised their target price on Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Morgan Stanley lifted their target price on Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a research note on Thursday, August 28th. Barclays lifted their target price on Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Raymond James Financial lifted their target price on Pure Storage from $76.00 to $88.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Finally, Bank of America lifted their target price on Pure Storage from $76.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $77.39.

Pure Storage Trading Up 0.3%

Shares of PSTG traded up $0.26 during mid-day trading on Tuesday, reaching $87.02. 3,493,651 shares of the stock traded hands, compared to its average volume of 2,896,591. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $88.01. The firm has a fifty day moving average price of $63.98 and a 200 day moving average price of $54.85. The company has a market cap of $28.44 billion, a price-to-earnings ratio of 212.25, a price-to-earnings-growth ratio of 7.69 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings results 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. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. During the same period in the prior year, the business posted $0.44 earnings per share. The company'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. On average, sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Activity

In other Pure Storage news, insider John Colgrove sold 95,300 shares of Pure Storage stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $60.08, for a total value of $5,725,624.00. Following the completion of the transaction, the insider directly owned 400,000 shares of the company's stock, valued at $24,032,000. This trade represents a 19.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ajay Singh sold 22,601 shares of Pure Storage stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the transaction, the insider directly owned 261,465 shares of the company's stock, 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. Over the last quarter, insiders have sold 551,360 shares of company stock valued at $33,317,922. Company 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.