Pure Storage, Inc. $PSTG Shares Sold by Sara Bay Financial

Sara Bay Financial cut its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 208,398 shares of the technology company's stock after selling 6,221 shares during the period. Pure Storage accounts for 4.3% of Sara Bay Financial's holdings, making the stock its 6th largest position. Sara Bay Financial owned about 0.06% of Pure Storage worth $12,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its position in Pure Storage by 25.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company's stock worth $401,793,000 after acquiring an additional 1,868,782 shares during the last quarter. Blair William & Co. IL lifted its position in Pure Storage by 2.8% during the first quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company's stock worth $156,780,000 after acquiring an additional 96,731 shares during the last quarter. Northern Trust Corp lifted its position in Pure Storage by 0.8% during the first quarter. Northern Trust Corp now owns 2,911,591 shares of the technology company's stock worth $128,896,000 after acquiring an additional 23,531 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Pure Storage by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,537,264 shares of the technology company's stock worth $112,325,000 after acquiring an additional 47,584 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Pure Storage by 3.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company's stock worth $88,992,000 after acquiring an additional 58,054 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PSTG. Northland Securities lifted their price target on shares of Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Barclays lifted their price target on shares of Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research report on Friday, August 29th. Raymond James Financial lifted their price target on shares of Pure Storage from $76.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Evercore ISI lifted their price target on shares of Pure Storage from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Finally, Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.39.

Pure Storage Price Performance

NYSE PSTG opened at $88.38 on Wednesday. The business has a fifty day moving average price of $67.10 and a two-hundred day moving average price of $56.15. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $89.10. The stock has a market capitalization of $29.04 billion, a PE ratio of 215.55, a PEG ratio of 8.16 and a beta of 1.20.

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

Insider Activity

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $87.33, for a total transaction of $8,733,000.00. Following the completion of the sale, the insider directly owned 300,000 shares in the company, valued at $26,199,000. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 5,155 shares of the company's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $88.08, for a total value of $454,052.40. Following the sale, the chief accounting officer owned 116,444 shares of the company's stock, valued at $10,256,387.52. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 656,566 shares of company stock valued at $42,724,053. Corporate insiders own 5.60% of the company's stock.

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.

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