Trexquant Investment LP Takes Position in Pure Storage, Inc. $PSTG

Key Points

• Trexquant Investment LP has acquired a new stake in Pure Storage, Inc., purchasing 108,677 shares valued at approximately $4.8 million in the first quarter.
• Multiple hedge funds have increased their positions in Pure Storage, including T. Rowe Price, which expanded its stake by 25.9%.
• Pure Storage reported a quarterly earnings per share (EPS) of $0.43, surpassing the consensus estimate and reflecting a 12.7% year-over-year revenue increase.

Trexquant Investment LP acquired a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 108,677 shares of the technology company's stock, valued at approximately $4,811,000.

A number of other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of Pure Storage by 25.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company's stock worth $401,793,000 after buying an additional 1,868,782 shares in the last quarter. Blair William & Co. IL grew its position in shares of Pure Storage by 2.8% during the first quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company's stock worth $156,780,000 after buying an additional 96,731 shares in the last quarter. Northern Trust Corp grew its position in shares of Pure Storage by 0.8% during the first quarter. Northern Trust Corp now owns 2,911,591 shares of the technology company's stock worth $128,896,000 after buying an additional 23,531 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Pure Storage by 3.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company's stock worth $88,992,000 after buying an additional 58,054 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Pure Storage by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,461,500 shares of the technology company's stock worth $64,701,000 after buying an additional 85,851 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Activity

In other news, CRO Dan Fitzsimons sold 6,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total transaction of $309,900.00. Following the completion of the transaction, the executive owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 198,749 shares of the business's stock in a transaction 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 transaction, the insider directly owned 500,000 shares of the company's stock, valued at approximately $30,160,000. This trade represents a 28.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 542,094 shares of company stock worth $32,367,537. 5.60% of the stock is owned by insiders.

Pure Storage Price Performance

Pure Storage stock opened at $77.48 on Tuesday. The company has a market cap of $25.32 billion, a PE ratio of 188.99, a P/E/G ratio of 8.49 and a beta of 1.20. The company has a fifty day moving average price of $58.48 and a two-hundred day moving average price of $53.41. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $80.68.

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 (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $0.44 earnings per share. The company'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. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Piper Sandler raised their price target on shares of Pure Storage from $66.00 to $78.00 and gave the stock an "overweight" rating in a research report on Thursday. Bank of America raised their price target on shares of Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Cowen reaffirmed a "buy" rating on shares of Pure Storage in a report on Thursday. Finally, Barclays lifted their price objective on shares of Pure Storage from $57.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $77.11.

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.

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