Price T Rowe Associates Inc. MD Sells 438,478 Shares of Pure Storage, Inc. $PSTG

Key Points

• Price T Rowe Associates Inc. MD has sold 438,478 shares of Pure Storage, Inc. (PSTG), reducing its stake by 27.2%, resulting in ownership of approximately 1,172,776 shares worth around $51.9 million.
• Institutional investors currently hold 83.42% of Pure Storage's stock, with significant transactions including T. Rowe Price Investment Management Inc. increasing its holdings by 25.9% to own over $401.7 million worth of shares.
• Analysts have set new price targets for PSTG, with Evercore ISI raising their objective from $60 to $70, while the consensus rating remains a "Moderate Buy" with an average target price of $69.56.

Price T Rowe Associates Inc. MD trimmed its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 27.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,172,776 shares of the technology company's stock after selling 438,478 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.36% of Pure Storage worth $51,920,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PSTG. McIlrath & Eck LLC bought a new stake in Pure Storage in the fourth quarter worth $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in 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 acquiring an additional 233 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in 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 acquiring an additional 785 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in Pure Storage in the first quarter worth $38,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after acquiring an additional 239 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Trading Down 3.8%

PSTG stock traded down $3.06 during trading on Friday, reaching $77.48. The stock had a trading volume of 9,351,858 shares, compared to its average volume of 3,210,271. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $80.68. The stock's 50 day moving average is $57.99 and its two-hundred day moving average is $53.54. The firm has a market cap of $25.32 billion, a PE ratio of 188.99, a PEG ratio of 8.52 and a beta of 1.07.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $845.78 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. 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. On average, research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Transactions at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,000 shares of the 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 transaction, the executive owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Colgrove sold 198,749 shares of the stock in a transaction dated Thursday, July 31st. The shares were 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 in the company, valued at approximately $30,160,000. This 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 ninety days. Insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PSTG. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a report on Saturday. Piper Sandler upped their price target on Pure Storage from $66.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday. Guggenheim reaffirmed a "buy" rating and set a $93.00 price target on shares of Pure Storage in a report on Thursday. Evercore ISI upped their price target on Pure Storage from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Raymond James Financial upped their price target on Pure Storage from $76.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.11.

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.