Pure Storage, Inc. $PSTG Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. decreased its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 15.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,396,861 shares of the technology company's stock after selling 248,041 shares during the quarter. Congress Asset Management Co. owned 0.43% of Pure Storage worth $80,431,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG grew its holdings in Pure Storage by 27.7% during the 2nd quarter. Bank Pictet & Cie Europe AG now owns 41,969 shares of the technology company's stock worth $2,417,000 after acquiring an additional 9,099 shares in the last quarter. Banque Pictet & Cie SA raised its stake in Pure Storage by 33.7% in the second quarter. Banque Pictet & Cie SA now owns 228,534 shares of the technology company's stock valued at $13,159,000 after buying an additional 57,644 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Pure Storage by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 96,919 shares of the technology company's stock worth $5,581,000 after buying an additional 1,934 shares during the last quarter. Norden Group LLC lifted its holdings in Pure Storage by 14.9% during the 2nd quarter. Norden Group LLC now owns 18,887 shares of the technology company's stock worth $1,088,000 after buying an additional 2,448 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Pure Storage during the 2nd quarter worth about $299,000. 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, Director John Francis Murphy sold 6,959 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $56.17, for a total transaction of $390,887.03. Following the completion of the sale, the director directly owned 19,706 shares of the company's stock, valued at $1,106,886.02. This represents a 26.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the sale, the executive directly owned 62,759 shares of the company's stock, valued at $5,486,391.78. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 656,566 shares of company stock valued at $42,724,053. Corporate insiders own 5.60% of the company's stock.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $83.41 on Friday. The firm's fifty day simple moving average is $68.22 and its 200-day simple moving average is $56.59. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $89.10. The stock has a market capitalization of $27.41 billion, a price-to-earnings ratio of 203.45, a PEG ratio of 7.88 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The firm had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. During the same quarter in the prior year, the business earned $0.44 EPS. Pure Storage'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. Analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSTG. Cowen reissued a "buy" rating on shares of Pure Storage in a research report on Thursday, August 28th. Evercore ISI raised their price objective on shares of Pure Storage from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Piper Sandler set a $92.00 price objective on shares of Pure Storage and gave the stock an "overweight" rating in a research report on Thursday. Wall Street Zen raised shares of Pure Storage from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Morgan Stanley boosted their price target 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, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pure Storage has a consensus rating of "Moderate Buy" and an average price target of $78.17.

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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