Mutual of America Capital Management LLC Sells 4,958 Shares of Pure Storage, Inc. $PSTG

Key Points

• Mutual of America Capital Management LLC reduced its stake in Pure Storage, selling 4,958 shares, which represents a 3.1% decrease in its holdings during the 2nd quarter.
• The stock's price target estimates have increased from various analysts, with Piper Sandler setting a target of $92.00 and Citigroup raising theirs to $81.00, indicating strong bullish sentiments.
• Recent insider transactions include a substantial share sale by John Colgrove, who sold 198,749 shares for around $11.99 million, marking a significant decrease in his position.

Mutual of America Capital Management LLC decreased its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,555 shares of the technology company's stock after selling 4,958 shares during the quarter. Mutual of America Capital Management LLC's holdings in Pure Storage were worth $8,899,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mechanics Financial Corp purchased a new position in shares of Pure Storage in the 2nd quarter worth about $25,000. REAP Financial Group LLC boosted its holdings in shares of Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock worth $35,000 after buying an additional 201 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Pure Storage in the 1st quarter worth about $38,000. Nisa Investment Advisors LLC boosted its holdings in shares of Pure Storage by 35.6% in 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 last quarter. Finally, Ramirez Asset Management Inc. boosted its holdings in shares of Pure Storage by 40.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company's stock worth $40,000 after buying an additional 200 shares during the last quarter. Institutional investors own 83.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PSTG shares. Piper Sandler set a $92.00 price target on shares of Pure Storage and gave the stock an "overweight" rating in a report on Thursday, September 25th. Cowen reaffirmed a "buy" rating on shares of Pure Storage in a report on Thursday, August 28th. Citigroup upped their price objective on shares of Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Bank of America upped their price objective on shares of Pure Storage from $76.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. Finally, Lake Street Capital upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.06.

Insider Buying and Selling

In related news, insider John Colgrove sold 198,749 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 of the company's stock, valued at approximately $30,160,000. The trade was a 28.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mona Chu sold 17,500 shares of the stock in a transaction 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 sale, the chief accounting officer owned 138,899 shares in the company, valued at $10,627,162.49. The trade was a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 743,111 shares of company stock valued at $51,703,009 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

Pure Storage Stock Down 0.1%

Shares of PSTG stock opened at $91.86 on Monday. The stock has a fifty day moving average of $78.32 and a 200 day moving average of $61.22. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $95.14. The firm has a market capitalization of $30.19 billion, a price-to-earnings ratio of 224.05, a PEG ratio of 8.47 and a beta of 1.22.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, beating 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 firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. During the same period last year, the company earned $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. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.

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