Michael S. Ryan Inc. Invests $254,000 in Pure Storage, Inc. $PSTG

Key Points

• Michael S. Ryan Inc. has invested $254,000 in Pure Storage, acquiring 4,409 shares, indicating strong institutional interest in the technology firm.
• Pure Storage reported earnings of $0.43 per share for the last quarter, surpassing analysts' predictions, and revenue increased by 12.7% year-over-year.
• Several analysts have raised their price targets for Pure Storage, with JPMorgan Chase & Co. increasing theirs from $70.00 to $80.00, reflecting positive sentiment towards the company's performance.

Michael S. Ryan Inc. bought a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,409 shares of the technology company's stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crumly & Associates Inc. bought a new stake in shares of Pure Storage during the 2nd quarter valued at about $242,000. Voya Investment Management LLC grew its position in shares of Pure Storage by 13.6% during the 1st quarter. Voya Investment Management LLC now owns 390,806 shares of the technology company's stock valued at $17,301,000 after buying an additional 46,723 shares during the last quarter. Compass Financial Services Inc grew its position in shares of Pure Storage by 120.9% during 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 during the last quarter. 1248 Management LLC bought a new stake in shares of Pure Storage during the 1st quarter valued at about $84,000. Finally, Inspire Investing LLC bought a new stake in shares of Pure Storage during the 1st quarter valued at about $1,756,000. Institutional investors own 83.42% of the company's stock.

Pure Storage Stock Down 0.1%

Pure Storage stock opened at $82.34 on Friday. The firm has a 50-day moving average price of $62.77 and a two-hundred day moving average price of $54.43. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of 200.83, a PEG ratio of 7.71 and a beta of 1.20. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $83.32.

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 (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The business's revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Raymond James Financial boosted their price objective on shares of Pure Storage from $76.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. UBS Group boosted their price objective on shares of Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a research report on Thursday, August 28th. Barclays boosted their price objective on shares of Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research report on Friday, August 29th. Finally, Guggenheim reissued a "buy" rating and set a $93.00 target price on shares of Pure Storage in a research note on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Pure Storage currently has an average rating of "Moderate Buy" and an average target price of $77.39.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 17,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total value of $1,338,925.00. Following the completion of the transaction, the chief accounting officer directly owned 138,899 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, CRO Dan Fitzsimons sold 6,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total transaction of $309,900.00. Following the completion of the transaction, the executive owned 75,965 shares of the company's stock, valued at $3,923,592.25. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 551,360 shares of company stock valued at $33,317,922. 5.60% of the stock is currently owned by insiders.

Pure Storage 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.

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