PFG Investments LLC Invests $243,000 in Pure Storage, Inc. $PSTG

Key Points

• PFG Investments LLC has acquired a new position in Pure Storage, investing approximately $243,000 to purchase 4,217 shares during the second quarter.
• A number of analysts, including Wells Fargo and Evercore ISI, have recently increased their target prices for Pure Storage, indicating bullish sentiments toward the stock.
• Insider trading activity includes Roxanne Taylor and John Colgrove selling shares recently, reducing their overall ownership, with insiders owning about 5.60% of the company.

PFG Investments LLC purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,217 shares of the technology company's stock, valued at approximately $243,000.

A number of other large investors have also modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Pure Storage by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company's stock worth $212,000 after acquiring an additional 194 shares during the last quarter. GraniteShares Advisors LLC lifted its holdings in shares of Pure Storage by 2.6% during the second quarter. GraniteShares Advisors LLC now owns 8,001 shares of the technology company's stock worth $461,000 after purchasing an additional 206 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after purchasing an additional 239 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Pure Storage by 5.1% during the first quarter. Mutual Advisors LLC now owns 5,173 shares of the technology company's stock worth $236,000 after purchasing an additional 252 shares during the period. Finally, MBM Wealth Consultants LLC lifted its holdings in shares of Pure Storage by 2.3% during the first quarter. MBM Wealth Consultants LLC now owns 11,372 shares of the technology company's stock worth $503,000 after purchasing an additional 252 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSTG. Wells Fargo & Company lifted their target price on Pure Storage from $80.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, September 26th. Evercore ISI lifted their target price on Pure Storage from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. UBS Group lifted their target price on Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a report on Thursday, August 28th. Barclays lifted their target price on Pure Storage from $57.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday, August 29th. Finally, Wedbush boosted their price target on Pure Storage from $70.00 to $80.00 and gave the company an "outperform" 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 issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $81.06.

Insiders Place Their Bets

In other news, Director Roxanne Taylor sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.93, for a total value of $230,790.00. Following the completion of the sale, the director directly owned 16,343 shares in the company, valued at $1,257,266.99. The trade was a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $87.33, for a total value of $8,733,000.00. Following the completion of the sale, the insider owned 300,000 shares of the company's stock, valued at $26,199,000. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 650,070 shares of company stock valued at $42,844,896. 5.60% of the stock is owned by insiders.

Pure Storage Trading Down 1.5%

Shares of NYSE:PSTG opened at $86.97 on Monday. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $89.40. The company has a market capitalization of $28.58 billion, a PE ratio of 212.12, a PEG ratio of 8.07 and a beta of 1.22. The business has a 50 day moving average of $71.56 and a two-hundred day moving average of $58.16.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 11.34% and a net margin of 4.15%.The business's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

About Pure Storage

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.