Lecap Asset Management Ltd. Buys Shares of 15,228 Pure Storage, Inc. $PSTG

Key Points

• Lecap Asset Management Ltd. acquired a new stake in Pure Storage, purchasing 15,228 shares valued at approximately $877,000 during the 2nd quarter.
• Institutional investors hold 83.42% of Pure Storage's stock, reflecting significant interest in the company, especially after FNY Investment Advisers LLC increased its position by 5,233.3%.
• Following recent sell-offs, insiders like Director John Francis Murphy and insider John Colgrove have reduced their stakes by 26.10% and 28.44%, respectively.

Lecap Asset Management Ltd. purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,228 shares of the technology company's stock, valued at approximately $877,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC increased its position in 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 acquiring an additional 785 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of Pure Storage during the first quarter valued at $38,000. Nisa Investment Advisors LLC raised its stake in shares of Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Pure Storage in the first quarter worth about $43,000. Finally, Compass Financial Services Inc grew its position in Pure Storage by 120.9% in the 1st quarter. Compass Financial Services Inc now owns 1,027 shares of the technology company's stock valued at $45,000 after buying an additional 562 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John Francis Murphy sold 6,959 shares of the stock in a transaction dated Friday, July 11th. The stock was 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 approximately $1,106,886.02. This represents a 26.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 198,749 shares of Pure Storage stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $60.32, for a total value of $11,988,539.68. Following the transaction, the insider directly owned 500,000 shares in the company, valued at approximately $30,160,000. This trade represents a 28.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 650,070 shares of company stock valued at $42,844,896 in the last ninety days. Corporate insiders own 5.60% of the company's stock.

Pure Storage Price Performance

Pure Storage stock opened at $88.31 on Friday. The company has a market cap of $29.02 billion, a P/E ratio of 215.41, a price-to-earnings-growth ratio of 7.96 and a beta of 1.22. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $89.10. The firm's 50 day simple moving average is $70.98 and its 200-day simple moving average is $57.81.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping 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 firm had revenue of $861.00 million for the quarter, compared to analysts' expectations of $845.78 million. During the same period in the previous year, the company posted $0.44 EPS. The company's quarterly revenue was up 12.7% compared to the same quarter last year. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on PSTG. JPMorgan Chase & Co. boosted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Northland Securities increased their price target on Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Raymond James Financial lifted their price target on Pure Storage from $76.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Morgan Stanley upped their price objective on Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, August 28th. Finally, Citigroup lifted their target price on Pure Storage from $70.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $81.06.

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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