Radnor Capital Management LLC Acquires 4,555 Shares of Pure Storage, Inc. $PSTG

Key Points

• Radnor Capital Management LLC increased its stake in Pure Storage by 14.9%, acquiring an additional 4,555 shares, bringing their total holdings to 35,145 shares valued at approximately $2,024,000.
• Pure Storage reported earnings of $0.43 per share, exceeding analysts' expectations of $0.39, while the company's revenue grew by 12.7% year-over-year to $861 million.
• Multiple research analysts raised their price targets for Pure Storage, with recent upgrades setting a new target range between $71.00 and $88.00, reflecting strong bullish sentiment around the stock.

Radnor Capital Management LLC boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 14.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,145 shares of the technology company's stock after buying an additional 4,555 shares during the quarter. Radnor Capital Management LLC's holdings in Pure Storage were worth $2,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. McIlrath & Eck LLC purchased a new stake in Pure Storage in the 4th quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Pure Storage by 55.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after purchasing an additional 233 shares during the period. FNY Investment Advisers LLC boosted its holdings in shares of Pure Storage by 5,233.3% in the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after purchasing an additional 785 shares during the period. TruNorth Capital Management LLC purchased a new stake in shares of Pure Storage in the 1st quarter worth $38,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Pure Storage by 35.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after buying an additional 239 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PSTG shares. Wedbush upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Lake Street Capital upped their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Morgan Stanley upped their target price on Pure Storage from $60.00 to $72.00 and gave the stock an "equal weight" rating in a report on Thursday, August 28th. UBS Group upped their target price on Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a report on Thursday, August 28th. Finally, Northland Securities upped their price objective on Pure Storage from $63.00 to $71.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $77.39.

Insider Transactions at Pure Storage

In other news, Director John Francis Murphy sold 6,959 shares of Pure Storage stock in a transaction on Friday, July 11th. The stock was sold at an average price of $56.17, for a total value of $390,887.03. Following the completion of the sale, the director owned 19,706 shares of the company's stock, valued at $1,106,886.02. The trade was a 26.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 198,749 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the completion of the sale, the insider owned 500,000 shares of the company's stock, valued at approximately $30,160,000. The trade was a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 551,360 shares of company stock worth $33,317,922 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 0.8%

NYSE:PSTG traded up $0.66 during midday trading on Friday, reaching $87.72. The company had a trading volume of 4,828,704 shares, compared to its average volume of 4,438,816. The stock's fifty day simple moving average is $65.75 and its 200-day simple moving average is $55.58. The firm has a market capitalization of $28.67 billion, a price-to-earnings ratio of 213.96, a PEG ratio of 8.14 and a beta of 1.20. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $88.01.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly 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 during 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. 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 EPS for the current year.

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.