Strs Ohio Invests $10.27 Million in Pure Storage, Inc. $PSTG

Key Points

• Strs Ohio has invested approximately $10.27 million in Pure Storage, acquiring 231,880 shares of the company.
• Pure Storage reported a 12.7% increase in revenue year-over-year, totaling $861 million for the last quarter, exceeding expectations.
• Analyst ratings for Pure Storage have generally improved, with several firms raising their target prices, indicating continued confidence in the company's performance.

Strs Ohio acquired a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 231,880 shares of the technology company's stock, valued at approximately $10,265,000. Strs Ohio owned about 0.07% of Pure Storage as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. McIlrath & Eck LLC purchased a new stake in Pure Storage during the 4th quarter valued at $25,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Pure Storage by 55.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after acquiring an additional 233 shares during the period. FNY Investment Advisers LLC grew its position in shares of Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after acquiring an additional 785 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of Pure Storage during the 1st quarter valued at $38,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock valued at $40,000 after acquiring an additional 239 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSTG shares. Evercore ISI boosted their price objective on shares of Pure Storage from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Citigroup upped their target price on shares of Pure Storage from $70.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Guggenheim reissued a "buy" rating and set a $93.00 price objective on shares of Pure Storage in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Finally, UBS Group increased their price objective on shares of Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a report on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $77.39.

Insider Buying and Selling

In related news, CAO Mona Chu sold 17,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total value of $1,338,925.00. Following the sale, the chief accounting officer directly owned 138,899 shares of the company's stock, valued at $10,627,162.49. This represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the transaction, the insider directly owned 261,465 shares in the company, valued at approximately $14,498,234.25. This trade represents a 7.96% 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 three months. 5.60% of the stock is currently owned by company insiders.

Pure Storage Stock Up 0.3%

Pure Storage stock traded up $0.26 during midday trading on Tuesday, reaching $87.02. The stock had a trading volume of 3,493,651 shares, compared to its average volume of 2,896,591. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $88.01. The firm has a market cap of $28.44 billion, a price-to-earnings ratio of 212.25, a price-to-earnings-growth ratio of 7.69 and a beta of 1.20. The company has a fifty day moving average of $63.39 and a 200 day moving average of $54.63.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $845.78 million. During the same period in the prior year, the company posted $0.44 EPS. The firm'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. Equities research analysts predict 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.