OMERS ADMINISTRATION Corp Buys 11,332 Shares of Pure Storage, Inc. $PSTG

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Pure Storage, Inc. by 46.6%, acquiring an additional 11,332 shares, bringing their total holdings to 35,624 shares valued at approximately $1.58 million.
• Analysts have raised their price targets for Pure Storage, with Lake Street Capital and Bank of America setting new targets at $80.00, while the consensus rating is a Moderate Buy with a price target of $77.11.
• Several insiders, including CRO Dan Fitzsimons and John Colgrove, have sold substantial amounts of company stock, indicating a 28.44% decrease in Colgrove's holdings after selling 198,749 shares.

OMERS ADMINISTRATION Corp boosted its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 46.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,624 shares of the technology company's stock after acquiring an additional 11,332 shares during the period. OMERS ADMINISTRATION Corp's holdings in Pure Storage were worth $1,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position in Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after buying an additional 233 shares during the period. Nisa Investment Advisors LLC lifted its position in 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 buying an additional 239 shares during the period. MBM Wealth Consultants LLC lifted its position in Pure Storage by 2.3% during the first quarter. MBM Wealth Consultants LLC now owns 11,372 shares of the technology company's stock valued at $503,000 after buying an additional 252 shares during the period. Mutual Advisors LLC lifted its position in Pure Storage by 5.1% during the first quarter. Mutual Advisors LLC now owns 5,173 shares of the technology company's stock valued at $236,000 after buying an additional 252 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its position in Pure Storage by 0.9% during the first quarter. Citizens Financial Group Inc. RI now owns 29,481 shares of the technology company's stock valued at $1,305,000 after buying an additional 261 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

PSTG has been the subject of several recent research reports. Lake Street Capital raised their price objective on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday. Bank of America raised their price objective on Pure Storage from $76.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday. UBS Group lifted their price target on Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a research report on Thursday. Cowen reaffirmed a "buy" rating on shares of Pure Storage in a research report on Thursday. Finally, Piper Sandler lifted their price target on Pure Storage from $66.00 to $78.00 and gave the stock an "overweight" rating in a research report on Thursday. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.11.

Insiders Place Their Bets

In other Pure Storage news, CRO Dan Fitzsimons sold 6,000 shares of the business's stock in a transaction dated 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 owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. The trade was a 7.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 198,749 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider directly owned 500,000 shares of the company's stock, 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 a total of 542,094 shares of company stock worth $32,367,537 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $77.48 on Monday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $80.68. The business has a 50-day simple moving average of $57.99 and a two-hundred day simple moving average of $53.34. The firm has a market cap of $25.32 billion, a price-to-earnings ratio of 188.99, a price-to-earnings-growth ratio of 8.49 and a beta of 1.20.

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 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 analyst estimates of $845.78 million. During the same quarter in the previous year, the firm earned $0.44 EPS. Pure Storage'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. As a group, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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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