Pure Storage, Inc. $PSTG Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Pure Storage, Inc. by 39.2%, selling 108,830 shares, leaving it with approximately $9.7 million worth of stock.
• Multiple analysts have raised their price targets for Pure Storage, with Needham & Company increasing it from $85.00 to $100.00, maintaining a "buy" rating for the stock.
• Insiders at Pure Storage sold a total of 650,070 shares in the last quarter, with significant sales executed by Ajay Singh and Dan Fitzsimons, resulting in notable reductions in their ownership percentages.

Robeco Institutional Asset Management B.V. lessened its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 39.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,493 shares of the technology company's stock after selling 108,830 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.05% of Pure Storage worth $9,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC boosted its stake 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 buying an additional 785 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Pure Storage during the 1st quarter worth about $38,000. Nisa Investment Advisors LLC boosted its position in shares of 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 during the last quarter. Banque Transatlantique SA purchased a new stake in Pure Storage in the first quarter valued at approximately $43,000. Finally, Compass Financial Services Inc increased its position in Pure Storage by 120.9% during the first quarter. Compass Financial Services Inc now owns 1,027 shares of the technology company's stock worth $45,000 after purchasing an additional 562 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PSTG shares. Needham & Company LLC boosted their price objective on shares of Pure Storage from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Northland Securities lifted their target price on Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. Wall Street Zen upgraded Pure Storage from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. UBS Group raised their price objective on Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a report on Thursday, August 28th. Finally, Lake Street Capital boosted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.06.

Insiders Place Their Bets

In related news, insider Ajay Singh sold 7,014 shares of the company's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total value of $602,151.90. Following the sale, the insider directly owned 229,307 shares of the company's stock, valued at $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total transaction of $528,978.42. Following the transaction, the executive owned 62,759 shares in the company, valued at $5,486,391.78. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 650,070 shares of company stock valued at $42,844,896. 5.60% of the stock is owned by insiders.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $86.97 on Monday. The business's 50-day simple moving average is $71.56 and its 200 day simple moving average is $58.16. The company has a market cap of $28.58 billion, a P/E ratio of 212.12, a PEG ratio of 8.07 and a beta of 1.22. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $89.40.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $845.78 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm's quarterly 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. Analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current 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.

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