UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $112.33 Million Stock Position in Pure Storage, Inc. $PSTG

Key Points

• UBS Asset Management has increased its stake in Pure Storage, Inc. by 1.9%, owning approximately 2.54 million shares valued at $112.3 million by the end of the first quarter.
• Multiple institutional investors, including MassMutual Private Wealth and FNY Investment Advisers, have significantly modified their holdings in Pure Storage during the first quarter, indicating growing interest in the stock.
• Analysts have raised their price targets for Pure Storage, with Needham & Company setting a target of $85, reflecting a positive outlook on the company's performance and growth prospects.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,537,264 shares of the technology company's stock after buying an additional 47,584 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.78% of Pure Storage worth $112,325,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PSTG. Bank Pictet & Cie Europe AG boosted 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 valued at $565,000 after buying an additional 1,740 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Pure Storage during the fourth quarter valued at $543,000. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Pure Storage by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 37,601 shares of the technology company's stock valued at $2,393,000 after purchasing an additional 266 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Pure Storage by 54.0% during the fourth quarter. Quantinno Capital Management LP now owns 65,813 shares of the technology company's stock valued at $4,043,000 after purchasing an additional 23,076 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Pure Storage by 8.8% during the fourth quarter. ProShare Advisors LLC now owns 15,899 shares of the technology company's stock valued at $977,000 after purchasing an additional 1,288 shares during the last quarter. Institutional investors own 83.42% of the company's stock.

Pure Storage Trading Up 0.3%

PSTG stock traded up $0.26 during mid-day trading on Tuesday, hitting $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 1-year low of $34.51 and a 1-year high of $88.01. The company has a fifty day moving average of $63.98 and a 200 day moving average of $54.85. The stock has a market capitalization of $28.44 billion, a price-to-earnings ratio of 212.25, a PEG ratio of 7.69 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping 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 return on equity of 11.34% and a net margin of 4.15%.The business's revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,000 shares of the company'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 sale, the executive directly owned 75,965 shares of the company's stock, valued at approximately $3,923,592.25. This represents a 7.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the transaction, the insider owned 261,465 shares in the company, 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. Insiders have sold a total of 551,360 shares of company stock worth $33,317,922 in the last 90 days. Company insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley upped their target price on Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, August 28th. Raymond James Financial upped 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. UBS Group upped 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. Lake Street Capital upped their target price on Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, Citigroup upped their target price on Pure Storage from $70.00 to $81.00 and gave the company a "buy" 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 given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.39.

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.