Pure Storage, Inc. $PSTG Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in Pure Storage, Inc. by 10.9%, owning 60,984 shares worth approximately $3.51 million as of the latest SEC filing.
• Insiders sold a total of 656,566 shares of Pure Storage stock worth $42.72 million in the last three months, indicating significant changes in ownership by executives.
• Pure Storage's recent earnings report showed an EPS of $0.43, exceeding analyst expectations, with revenue rising 12.7% year-over-year to $861 million.

Assenagon Asset Management S.A. lifted its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 10.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 60,984 shares of the technology company's stock after acquiring an additional 5,992 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Pure Storage were worth $3,511,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PSTG. MassMutual Private Wealth & Trust FSB lifted its holdings in Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after buying an additional 233 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after buying an additional 785 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in Pure Storage during the 1st quarter worth approximately $38,000. Nisa Investment Advisors LLC lifted its holdings in Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after buying an additional 239 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Pure Storage during the 1st quarter worth approximately $43,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pure Storage

In other Pure Storage news, Director John Francis Murphy sold 6,959 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $56.17, for a total transaction of $390,887.03. Following the transaction, the director directly owned 19,706 shares of the company's stock, valued at approximately $1,106,886.02. This trade represents a 26.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 198,749 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the transaction, the insider directly 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 disclosure for this sale can be found here. Insiders sold a total of 656,566 shares of company stock worth $42,724,053 in the last three months. Company insiders own 5.60% of the company's stock.

Pure Storage Price Performance

NYSE PSTG opened at $84.93 on Thursday. The firm's fifty day moving average price is $67.70 and its 200 day moving average price is $56.35. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 207.15, a price-to-earnings-growth ratio of 8.20 and a beta of 1.20. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $89.10.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its earnings results 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 firm had revenue of $861.00 million for the quarter, compared to the consensus estimate 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 was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Guggenheim reiterated a "buy" rating and set a $93.00 target price on shares of Pure Storage in a report on Thursday, August 28th. 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 report on Thursday, August 28th. Wedbush raised their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Citigroup raised their price objective on shares of Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, Bank of America raised their price objective on shares of Pure Storage from $76.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $77.39.

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.

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