United Asset Strategies Inc. Invests $624,000 in Pure Storage, Inc. $PSTG

Key Points

• United Asset Strategies Inc. acquired 14,091 shares of Pure Storage, Inc. valued at approximately $624,000 during the first quarter, marking a significant investment in the company.
• Pure Storage reported a quarterly EPS of $0.29, beating estimates by $0.04, and had revenue of $778.49 million, up 12.3% year-over-year.
• Institutional investors own approximately 83.42% of Pure Storage's stock, reflecting strong interest and confidence in the company's growth potential.

United Asset Strategies Inc. acquired a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,091 shares of the technology company's stock, valued at approximately $624,000.

A number of other institutional investors and hedge funds have also modified their holdings of PSTG. McIlrath & Eck LLC acquired a new stake in shares of Pure Storage in the fourth quarter worth $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Pure Storage by 55.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after buying an additional 233 shares during the last quarter. FNY Investment Advisers LLC raised its stake in Pure Storage by 5,233.3% during 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 last quarter. TruNorth Capital Management LLC acquired a new position in Pure Storage during the 1st quarter valued at $38,000. Finally, Nisa Investment Advisors LLC raised its stake in Pure Storage by 35.6% during 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 last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $55.6650 on Friday. The firm has a market capitalization of $18.19 billion, a PE ratio of 150.45, a price-to-earnings-growth ratio of 5.28 and a beta of 1.07. The company's fifty day moving average price is $56.35 and its two-hundred day moving average price is $53.68. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. Analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, Director John Francis Murphy sold 6,959 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $56.17, for a total value of $390,887.03. Following the sale, the director owned 19,706 shares of the company's stock, valued at $1,106,886.02. The trade was a 26.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the executive directly owned 75,965 shares in the company, valued at $3,923,592.25. This trade represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 446,794 shares of company stock worth $26,641,913. Corporate insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PSTG. Evercore ISI upped their target price on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Piper Sandler reiterated an "overweight" rating and set a $66.00 target price (up from $53.00) on shares of Pure Storage in a research note on Thursday, May 29th. Barclays cut their target price on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Citigroup upped their target price on shares of Pure Storage from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Fourteen investment 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, Pure Storage presently has an average rating of "Moderate Buy" and a consensus price target of $70.11.

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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