Stephens Investment Management Group LLC Sells 53,007 Shares of Pure Storage, Inc. $PSTG

Key Points

• Stephens Investment Management Group LLC has reduced its stake in Pure Storage, Inc. by 4.6%, selling 53,007 shares to hold 1,089,690 shares worth $62.74 million as of the latest SEC filing.
• Pure Storage reported earnings of $0.43 per share, exceeding analysts' expectations, and experienced a revenue increase of 12.7% year-over-year, amounting to $861 million.
• Analysts have shown increased confidence in Pure Storage, with several raising their price targets and the company currently holding a consensus rating of "Moderate Buy" with an average target of $88.56.

Stephens Investment Management Group LLC trimmed its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 4.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,089,690 shares of the technology company's stock after selling 53,007 shares during the period. Stephens Investment Management Group LLC owned 0.33% of Pure Storage worth $62,744,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Empowered Funds LLC lifted its stake in shares of Pure Storage by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company's stock valued at $212,000 after acquiring an additional 194 shares during the last quarter. Ramirez Asset Management Inc. raised its position in shares of Pure Storage by 40.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company's stock worth $40,000 after acquiring an additional 200 shares in the last quarter. REAP Financial Group LLC raised its position in shares of Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock worth $35,000 after acquiring an additional 201 shares in the last quarter. GraniteShares Advisors LLC grew its stake in shares of Pure Storage by 2.6% in the 2nd quarter. GraniteShares Advisors LLC now owns 8,001 shares of the technology company's stock valued at $461,000 after buying an additional 206 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake 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 valued at $40,000 after buying an additional 239 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Trading Down 0.3%

NYSE:PSTG opened at $90.75 on Wednesday. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $95.14. The company has a 50 day simple moving average of $79.62 and a two-hundred day simple moving average of $61.80. The company 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.

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, beating 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 for the quarter, compared to analysts' expectations of $845.78 million. During the same quarter in the previous year, the company earned $0.44 EPS. Pure Storage's revenue for the quarter 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. Research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on PSTG shares. Lake Street Capital raised their target price on 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 report on Thursday, August 28th. Wall Street Zen upgraded Pure Storage from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Barclays upped their price objective on Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Finally, Needham & Company LLC boosted their target price on shares of Pure Storage from $85.00 to $100.00 and gave the company a "buy" rating in a report on Friday, September 26th. Fourteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pure Storage currently has a consensus rating of "Moderate Buy" and an average price target of $88.56.

Insider Activity

In other news, Director Roxanne Taylor sold 3,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $76.93, for a total transaction of $230,790.00. Following the sale, the director directly owned 16,343 shares in the company, valued at approximately $1,257,266.99. This represents a 15.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajay Singh sold 7,014 shares of the company's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total transaction of $602,151.90. Following the sale, the insider owned 229,307 shares in the company, valued at $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 743,111 shares of company stock worth $51,703,009. 5.60% of the stock is owned by insiders.

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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