Pure Storage, Inc. $PSTG Stock Holdings Lifted by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its holdings in Pure Storage by 2.8%, owning approximately 0.09% of the company valued at $17.75 million.
• Several analysts have raised their price targets for Pure Storage, with Evercore ISI targeting $105 and Citigroup at $110, reflecting a positive outlook on the stock.
• During the last 90 days, insiders sold over 743,111 shares of Pure Storage stock, valued at approximately $51.70 million.

ARK Investment Management LLC lifted its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 2.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 308,325 shares of the technology company's stock after buying an additional 8,538 shares during the quarter. ARK Investment Management LLC owned approximately 0.09% of Pure Storage worth $17,753,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PSTG. GAMMA Investing LLC lifted its position in shares of Pure Storage by 59.4% in the 1st quarter. GAMMA Investing LLC now owns 5,118 shares of the technology company's stock worth $227,000 after buying an additional 1,908 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Pure Storage by 2.3% in the 1st quarter. State of Alaska Department of Revenue now owns 36,295 shares of the technology company's stock worth $1,606,000 after buying an additional 800 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Pure Storage by 8.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,327 shares of the technology company's stock worth $324,000 after buying an additional 570 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Pure Storage by 4.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 121,895 shares of the technology company's stock worth $5,396,000 after buying an additional 4,687 shares during the last quarter. Finally, WoodTrust Financial Corp lifted its position in shares of Pure Storage by 2.1% in the 1st quarter. WoodTrust Financial Corp now owns 33,695 shares of the technology company's stock worth $1,492,000 after buying an additional 700 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSTG. Wells Fargo & Company raised their price target on shares of Pure Storage from $80.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. Bank of America increased their price objective on shares of Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Morgan Stanley increased their price objective on shares of Pure Storage from $60.00 to $72.00 and gave the stock an "equal weight" rating in a report on Thursday, August 28th. Evercore ISI increased their price objective on shares of Pure Storage from $90.00 to $105.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Citigroup increased their price objective on shares of Pure Storage from $81.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.56.

Pure Storage Stock Down 0.3%

PSTG stock opened at $90.75 on Wednesday. The stock has a market cap of $29.82 billion, a PE ratio of 221.34, a price-to-earnings-growth ratio of 8.39 and a beta of 1.22. The firm's 50-day simple moving average is $79.62 and its 200 day simple moving average is $61.80. 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 released its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, beating the consensus estimate 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 net margin of 4.15% and a return on equity of 11.34%. Pure Storage's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,051 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $5,486,391.78. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mona Chu sold 17,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the transaction, the chief accounting officer directly owned 138,899 shares in the company, valued at approximately $10,627,162.49. The trade was a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 743,111 shares of company stock worth $51,703,009 in the last 90 days. Corporate insiders own 5.60% of the company's stock.

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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