Kestra Advisory Services LLC Boosts Stock Position in Pure Storage, Inc. $PSTG

Key Points

• Kestra Advisory Services LLC increased its stake in Pure Storage by 29.8%, now holding 28,427 shares worth $1,258,000.
• Multiple analysts raised their price targets for Pure Storage, with Bank of America setting a new target of $80.00 and Citigroup at $81.00, reflecting a positive outlook.
• Insiders at Pure Storage sold a total of 542,094 shares valued at approximately $32.37 million over the last ninety days, representing notable insider activity.

Kestra Advisory Services LLC grew its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 29.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,427 shares of the technology company's stock after purchasing an additional 6,527 shares during the period. Kestra Advisory Services LLC's holdings in Pure Storage were worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. LPL Financial LLC grew its position in shares of Pure Storage by 22.6% in the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company's stock valued at $5,240,000 after purchasing an additional 21,812 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company's stock worth $12,209,000 after acquiring an additional 32,611 shares during the period. D.A. Davidson & CO. grew its position in Pure Storage by 7.7% in the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company's stock worth $310,000 after acquiring an additional 500 shares during the period. Fifth Third Bancorp grew its position in Pure Storage by 11.3% in the first quarter. Fifth Third Bancorp now owns 5,339 shares of the technology company's stock worth $236,000 after acquiring an additional 542 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in Pure Storage by 8.4% in the first quarter. Oppenheimer & Co. Inc. now owns 7,327 shares of the technology company's stock worth $324,000 after acquiring an additional 570 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several analyst reports. Bank of America increased their price objective on Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday. Citigroup increased their price objective on Pure Storage from $70.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday. Guggenheim reiterated a "buy" rating and issued a $93.00 price objective on shares of Pure Storage in a research report on Thursday. Raymond James Financial increased their price objective on Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, UBS Group increased their price objective on Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a research report on Thursday. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.11.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 6,000 shares of Pure Storage stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the completion of the transaction, the executive directly owned 75,965 shares in the company, valued at approximately $3,923,592.25. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Francis Murphy sold 11,234 shares of Pure Storage stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $55.13, for a total value of $619,330.42. Following the completion of the transaction, the director owned 21,930 shares of the company's stock, valued at approximately $1,209,000.90. This trade represents a 33.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 542,094 shares of company stock valued at $32,367,537. 5.60% of the stock is currently owned by company insiders.

Pure Storage Stock Down 3.8%

PSTG opened at $77.48 on Monday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $80.68. The business has a fifty day simple moving average of $57.99 and a 200-day simple moving average of $53.34. The firm has a market cap of $25.32 billion, a P/E ratio of 188.99, a P/E/G ratio of 8.49 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. During the same period last year, the business posted $0.44 earnings per share. The company's quarterly 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. Sell-side analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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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