4,409 Shares in Pure Storage, Inc. $PSTG Acquired by Michael S. Ryan Inc.

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. acquired a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,409 shares of the technology company's stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSTG. T. Rowe Price Investment Management Inc. increased its position in Pure Storage by 25.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company's stock worth $401,793,000 after purchasing an additional 1,868,782 shares in the last quarter. Woodline Partners LP purchased a new stake in Pure Storage during the 1st quarter worth about $38,989,000. Nuveen LLC purchased a new stake in Pure Storage during the 1st quarter worth about $32,410,000. Goldman Sachs Group Inc. grew its holdings in Pure Storage by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company's stock valued at $50,377,000 after buying an additional 595,307 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Pure Storage in the 1st quarter valued at about $24,462,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. UBS Group lifted their price target on Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a report on Thursday, August 28th. Morgan Stanley lifted their price target on Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, August 28th. Cowen restated a "buy" rating on shares of Pure Storage in a report on Thursday, August 28th. Piper Sandler lifted their price target on Pure Storage from $66.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Finally, Guggenheim restated a "buy" rating and issued a $93.00 price target on shares of Pure Storage in a report 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.39.

Pure Storage Stock Performance

Shares of NYSE:PSTG traded up $1.30 during trading on Thursday, reaching $87.09. 1,135,181 shares of the stock were exchanged, compared to its average volume of 2,889,117. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $88.01. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 212.66, a price-to-earnings-growth ratio of 8.14 and a beta of 1.20. The firm's 50-day moving average price is $64.53 and its 200 day moving average price is $55.07.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $845.78 million. During the same quarter in the previous year, the business earned $0.44 EPS. The company's revenue for the quarter 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. As a group, equities research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Buying and Selling at Pure Storage

In related news, insider Ajay Singh sold 22,601 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 261,465 shares of the company's stock, valued at approximately $14,498,234.25. The trade was a 7.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mona Chu sold 17,500 shares of the business's stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 551,360 shares of company stock worth $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.