Sequoia Financial Advisors LLC Invests $235,000 in Pure Storage, Inc. $PSTG

Key Points

• Sequoia Financial Advisors LLC has invested $235,000 in Pure Storage, acquiring 4,082 shares during the second quarter, indicating increasing interest in the technology firm.
• Pure Storage stock recently hit a high of $95.14, reflecting a strong performance over the past year where company revenue grew by 12.7% year-over-year.
• Insiders have sold a total of $51.7 million worth of shares over the last 90 days, with current insider ownership at 5.60% of the company's stock.

Sequoia Financial Advisors LLC purchased a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,082 shares of the technology company's stock, valued at approximately $235,000.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC boosted its stake in shares of Pure Storage by 22.6% in the 1st quarter. LPL Financial LLC now owns 118,368 shares of the technology company's stock valued at $5,240,000 after purchasing an additional 21,812 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in 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 valued at $12,209,000 after buying an additional 32,611 shares in the last quarter. Crumly & Associates Inc. acquired a new position in Pure Storage in the second quarter valued at about $242,000. Michael S. Ryan Inc. acquired a new position in Pure Storage in the second quarter valued at about $254,000. Finally, D.A. Davidson & CO. boosted its position in Pure Storage by 7.7% in the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company's stock valued at $310,000 after buying an additional 500 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,051 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive directly owned 62,759 shares of the company's stock, valued at $5,486,391.78. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mona Chu sold 9,091 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total transaction of $771,916.81. Following the sale, the chief accounting officer directly owned 107,353 shares of the company's stock, valued at approximately $9,115,343.23. This trade represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 743,111 shares of company stock valued at $51,703,009 over the last 90 days. Company insiders own 5.60% of the company's stock.

Pure Storage Trading Up 5.3%

Shares of NYSE PSTG opened at $93.61 on Friday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $95.14. The company has a market cap of $30.76 billion, a PE ratio of 228.32, a P/E/G ratio of 8.19 and a beta of 1.22. The company has a 50-day moving average of $80.91 and a two-hundred day moving average of $62.36.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays boosted 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. Northland Securities boosted 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. Piper Sandler set a $92.00 price target on shares of Pure Storage and gave the company an "overweight" rating in a research report on Thursday, September 25th. Wedbush boosted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Pure Storage in a research report on Wednesday, October 8th. Fourteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $88.56.

Pure Storage Company 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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