TD Asset Management Inc Has $39.90 Million Stock Position in Pure Storage, Inc. $PSTG

Key Points

• TD Asset Management Inc reduced its stake in Pure Storage, Inc. by 5.4%, now holding approximately $39.90 million worth of stock.
• Several institutional investors, including T. Rowe Price and Goldman Sachs, have significantly increased their stakes in Pure Storage, demonstrating growing confidence in the company.
• Analysts have shown positive sentiments towards Pure Storage, with target prices being raised; the average current target price is $82.44, reflecting a "Moderate Buy" rating.

TD Asset Management Inc decreased its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 693,015 shares of the technology company's stock after selling 39,447 shares during the period. TD Asset Management Inc owned 0.21% of Pure Storage worth $39,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its position in Pure Storage by 25.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company's stock valued at $401,793,000 after purchasing an additional 1,868,782 shares during the period. Woodline Partners LP acquired a new position in Pure Storage during the 1st quarter valued at about $38,989,000. Nuveen LLC acquired a new position in Pure Storage during the 1st quarter valued at about $32,410,000. Goldman Sachs Group Inc. lifted its position in Pure Storage by 109.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company's stock valued at $50,377,000 after purchasing an additional 595,307 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in Pure Storage during the 1st quarter valued at about $24,462,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PSTG. Barclays upped their target price 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Pure Storage in a research report on Wednesday, October 8th. UBS Group increased their price target on shares of Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a research report on Thursday, August 28th. Wedbush increased 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, Guggenheim increased their price target on shares of Pure Storage from $93.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $82.44.

Insider Buying and Selling at Pure Storage

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

Pure Storage Stock Performance

NYSE PSTG opened at $91.91 on Friday. The business has a 50 day simple moving average of $77.65 and a 200 day simple moving average of $60.65. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $95.14. The stock has a market cap of $30.21 billion, a price-to-earnings ratio of 224.18, a PEG ratio of 8.60 and a beta of 1.22.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The business had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. During the same period in the prior year, the business earned $0.44 EPS. Pure Storage's revenue for the quarter was up 12.7% compared to the same quarter last year. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

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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