Trexquant Investment LP Takes $4.81 Million 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 purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 108,677 shares of the technology company's stock, valued at approximately $4,811,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSTG. Bank Pictet & Cie Europe AG increased its stake in Pure Storage by 23.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company's stock worth $565,000 after purchasing an additional 1,740 shares during the period. Baird Financial Group Inc. grew its position in shares of Pure Storage by 9,041.4% during the fourth quarter. Baird Financial Group Inc. now owns 521,516 shares of the technology company's stock worth $32,037,000 after buying an additional 515,811 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Pure Storage during the fourth quarter worth about $3,653,000. Captrust Financial Advisors grew its position in shares of Pure Storage by 14.3% during the fourth quarter. Captrust Financial Advisors now owns 68,706 shares of the technology company's stock worth $4,221,000 after buying an additional 8,594 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Pure Storage by 10.4% during the fourth quarter. Cetera Investment Advisers now owns 73,268 shares of the technology company's stock worth $4,501,000 after buying an additional 6,909 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John Francis Murphy sold 6,959 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $56.17, for a total value of $390,887.03. Following the completion of the sale, the director directly owned 19,706 shares of the company's stock, valued at approximately $1,106,886.02. This represents a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total value of $1,253,225.45. Following the completion of the sale, the insider directly owned 261,465 shares of the company's stock, valued at $14,498,234.25. The trade was a 7.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 551,360 shares of company stock valued at $33,317,922. 5.60% of the stock is owned by insiders.

Pure Storage Stock Up 0.5%

Pure Storage stock traded up $0.39 during mid-day trading on Friday, hitting $79.12. The company had a trading volume of 3,919,714 shares, compared to its average volume of 3,799,684. The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 192.99, a PEG ratio of 7.40 and a beta of 1.20. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $80.68. The business has a fifty day moving average of $60.32 and a 200 day moving average of $53.79.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup boosted their price objective on Pure Storage from $70.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Lake Street Capital boosted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. UBS Group increased their target price on Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a report on Thursday, August 28th. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Finally, Raymond James Financial increased their target price on Pure Storage from $76.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.39.

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.