Pure Storage, Inc. $PSTG Shares Sold by Stanley Laman Group Ltd.

Key Points

• Stanley Laman Group Ltd. has reduced its holdings in Pure Storage, Inc. by 8.6%, selling 6,038 shares, and now owns 64,532 shares valued at approximately $3.72 million.
• Recently, several institutional investors, including LPL Financial and Mitsubishi UFJ Asset Management, have increased their stakes in Pure Storage, reflecting significant confidence in the company.
• Pure Storage reported $0.43 earnings per share for the latest quarter, exceeding analysts' expectations, and posted a revenue increase of 12.7% compared to the previous year.

Stanley Laman Group Ltd. reduced its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,532 shares of the technology company's stock after selling 6,038 shares during the quarter. Stanley Laman Group Ltd.'s holdings in Pure Storage were worth $3,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of PSTG. LPL Financial LLC raised its position in shares of Pure Storage by 22.6% during the 1st quarter. LPL Financial LLC now owns 118,368 shares of the technology company's stock worth $5,240,000 after purchasing an additional 21,812 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company's stock worth $12,209,000 after acquiring an additional 32,611 shares during the last quarter. Crumly & Associates Inc. acquired a new position in shares of Pure Storage in the second quarter worth $242,000. Michael S. Ryan Inc. acquired a new stake in shares of Pure Storage during the second quarter valued at $254,000. Finally, D.A. Davidson & CO. boosted its stake in shares of Pure Storage by 7.7% during the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company's stock valued at $310,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Stock Down 0.1%

Shares of PSTG opened at $91.86 on Friday. The firm has a market cap of $30.19 billion, a PE ratio of 224.05, a price-to-earnings-growth ratio of 8.54 and a beta of 1.22. The company's fifty day moving average is $78.32 and its two-hundred day moving average is $60.97. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $95.14.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share 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 analysts' expectations of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Activity

In other news, 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 value of $528,978.42. Following the completion of the sale, the executive owned 62,759 shares of the company's stock, valued at $5,486,391.78. This represents a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajay Singh sold 7,014 shares of the firm's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total transaction of $602,151.90. Following the completion of the transaction, the insider directly owned 229,307 shares in the company, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 743,111 shares of company stock worth $51,703,009. Insiders own 5.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Guggenheim boosted their target price on shares of Pure Storage from $93.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Lake Street Capital upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Northland Securities lifted their target price on shares of Pure Storage from $63.00 to $71.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Wedbush increased their price target on Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Pure Storage in a report on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.06.

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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