8,838 Shares in Pure Storage, Inc. $PSTG Purchased by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC has invested $509,000 in Pure Storage, Inc. by purchasing 8,838 shares during the 2nd quarter.
• Wall Street analysts have raised their price targets on Pure Storage, with ratings ranging from "equal weight" to "buy," suggesting a consensus price target of $77.39.
• Insiders have sold a total of 551,360 shares of Pure Storage valued at over $33 million in the last quarter, indicating potential concerns about stock performance despite recent positive earnings results.

Procyon Advisors LLC bought a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,838 shares of the technology company's stock, valued at approximately $509,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PSTG. McIlrath & Eck LLC purchased a new position in shares of Pure Storage during the fourth quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after purchasing an additional 233 shares during the last quarter. FNY Investment Advisers LLC raised its position in Pure Storage by 5,233.3% in the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after purchasing an additional 785 shares during the period. 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 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. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 17,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the transaction, the chief accounting officer owned 138,899 shares in the company, valued at approximately $10,627,162.49. This represents a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roxanne Taylor sold 3,000 shares of the 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 transaction, the director directly owned 16,343 shares of the company's stock, valued at $1,257,266.99. This represents a 15.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 645,360 shares of company stock worth $41,741,022. Insiders own 5.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. 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 note on Thursday, August 28th. Morgan Stanley boosted their price objective on Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a research report on Thursday, August 28th. Lake Street Capital raised their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Finally, Cowen reiterated a "buy" rating on shares of Pure Storage in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Pure Storage presently has an average rating of "Moderate Buy" and a consensus target price of $77.39.

Pure Storage Price Performance

NYSE:PSTG traded up $0.15 during trading hours on Monday, hitting $88.02. The company had a trading volume of 2,436,046 shares, compared to its average volume of 4,593,953. The company has a market capitalization of $28.93 billion, a PE ratio of 214.68, a price-to-earnings-growth ratio of 8.16 and a beta of 1.20. The stock has a 50-day moving average price of $66.42 and a 200 day moving average price of $55.92. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $88.55.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current fiscal 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.