Pembroke Management LTD Has $24.14 Million Stock Position in Pure Storage, Inc. $PSTG

Key Points

• Pembroke Management LTD increased its holdings in Pure Storage, Inc. by 12.7%, acquiring an additional 61,399 shares during the first quarter, making Pure Storage its 7th largest holding.
• Wall Street analysts have a generally positive outlook on Pure Storage, with 14 analysts rating it as a Buy and a consensus target price of $76.39.
• Pure Storage reported a quarterly EPS of $0.43, exceeding estimates, and achieved a revenue of $861 million, reflecting a 12.7% year-over-year growth.

Pembroke Management LTD lifted its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 12.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 545,332 shares of the technology company's stock after purchasing an additional 61,399 shares during the quarter. Pure Storage accounts for 3.6% of Pembroke Management LTD's portfolio, making the stock its 7th largest position. Pembroke Management LTD owned about 0.17% of Pure Storage worth $24,142,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC purchased a new stake in shares of Pure Storage in the fourth quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Pure Storage by 55.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after purchasing an additional 233 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Pure Storage by 5,233.3% in the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after purchasing an additional 785 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Pure Storage in the first quarter worth approximately $38,000. Finally, Nisa Investment Advisors LLC raised 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 acquiring an additional 239 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 198,749 shares of Pure Storage stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the sale, the insider owned 500,000 shares in the company, valued at $30,160,000. The trade was a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $55.13, for a total transaction of $619,330.42. Following the transaction, the director directly owned 21,930 shares of the company's stock, valued at $1,209,000.90. The trade was a 33.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 542,094 shares of company stock valued at $32,367,537 in the last ninety days. 5.60% of the stock is owned by company insiders.

Pure Storage Trading Down 3.8%

NYSE:PSTG traded down $3.06 during mid-day trading on Monday, hitting $77.48. 9,351,858 shares of the company's stock traded hands, compared to its average volume of 3,529,062. The firm has a market capitalization 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. The firm has a 50 day moving average of $58.48 and a two-hundred day moving average of $53.41. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $80.68.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 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 company had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. During the same period in the previous year, the company earned $0.44 earnings per share. 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. As a group, equities research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent research reports. Lake Street Capital raised their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday. Northland Securities raised their price objective on shares of Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a research report on Thursday. Morgan Stanley raised their price objective on shares of Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a research report on Thursday. UBS Group raised 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. Finally, JPMorgan Chase & Co. raised 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. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.11.

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.