Union Bancaire Privee UBP SA Buys 4,093 Shares of Pure Storage, Inc. $PSTG

Key Points

• Union Bancaire Privee UBP SA increased its holdings in Pure Storage, Inc. by 15.3%, purchasing an additional 4,093 shares during the second quarter, bringing its total ownership to 30,771 shares valued at $1,711,000.
• The stock of Pure Storage opened at $83.75 and has a 52-week range from $34.51 to $89.10, with a current market capitalization of $27.52 billion.
• Pure Storage reported a 12.7% increase in revenue year-over-year, achieving $861 million for the quarter, and earnings per share of $0.43, exceeding analysts' expectations.

Union Bancaire Privee UBP SA lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 15.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,771 shares of the technology company's stock after purchasing an additional 4,093 shares during the period. Union Bancaire Privee UBP SA's holdings in Pure Storage were worth $1,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its position in Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after acquiring an additional 233 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Pure Storage in the 2nd quarter valued at about $45,000. FNY Investment Advisers LLC raised its holdings in shares of Pure Storage by 5,233.3% in the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after purchasing an additional 785 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of Pure Storage in the 1st quarter valued at about $38,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Pure Storage by 35.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock valued at $40,000 after purchasing an additional 239 shares during the period. Institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

PSTG stock opened at $83.75 on Wednesday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $89.10. The stock has a market capitalization of $27.52 billion, a price-to-earnings ratio of 204.27, a PEG ratio of 7.70 and a beta of 1.20. The business's fifty day moving average price is $69.78 and its two-hundred day moving average price is $57.35.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS 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 business had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. During the same period last year, the firm earned $0.44 earnings per share. 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. Research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 198,749 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the transaction, the insider owned 500,000 shares in the company, valued at $30,160,000. This trade represents a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Dan Fitzsimons sold 6,051 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the completion of the transaction, the executive owned 62,759 shares in the company, valued at $5,486,391.78. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 640,979 shares of company stock valued at $42,072,979. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on PSTG shares. Barclays upped their price objective on Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Evercore ISI increased their price target on Pure Storage from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Northland Securities increased their price target on Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Lake Street Capital increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, Wedbush increased their price objective 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. Fourteen 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.06.

About Pure Storage

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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