US Bancorp DE Decreases Stake in Pure Storage, Inc. $PSTG

Key Points

• US Bancorp DE has decreased its stake in Pure Storage, Inc. by 6.6%, now holding 115,234 shares valued at approximately $6.64 million.
• Recent analyst activity includes multiple upgrades for Pure Storage, with fourteen analysts rating it as a Buy and a consensus target price of $81.06.
• Insider John Colgrove sold 100,000 shares for about $8.73 million, marking a significant decrease of 25% in his position.

US Bancorp DE lowered its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 115,234 shares of the technology company's stock after selling 8,087 shares during the quarter. US Bancorp DE's holdings in Pure Storage were worth $6,635,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in Pure Storage by 22.6% in the 1st quarter. LPL Financial LLC now owns 118,368 shares of the technology company's stock worth $5,240,000 after acquiring an additional 21,812 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Pure Storage by 13.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company's stock worth $12,209,000 after acquiring an additional 32,611 shares during the last quarter. Crumly & Associates Inc. purchased a new stake in Pure Storage in the 2nd quarter worth about $242,000. Michael S. Ryan Inc. purchased a new stake in Pure Storage in the 2nd quarter worth about $254,000. Finally, D.A. Davidson & CO. increased its holdings in Pure Storage by 7.7% in the 1st quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company's stock worth $310,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PSTG. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Piper Sandler set a $92.00 target price on Pure Storage and gave the company an "overweight" rating in a report on Thursday, September 25th. Northland Securities lifted their target price on Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. Needham & Company LLC lifted their target price on Pure Storage from $85.00 to $100.00 and gave the company a "buy" rating in a report on Friday, September 26th. Finally, Citigroup lifted 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 analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.06.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $87.33, for a total transaction of $8,733,000.00. Following the completion of the sale, the insider owned 300,000 shares in the company, valued at approximately $26,199,000. This trade represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roxanne Taylor sold 3,000 shares of Pure Storage stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the sale, the director owned 16,343 shares of the company's stock, valued at approximately $1,257,266.99. This trade represents a 15.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 643,111 shares of company stock worth $42,454,009. Company insiders own 5.60% of the company's stock.

Pure Storage Trading Down 4.5%

Shares of PSTG opened at $89.43 on Monday. The company has a market cap of $29.39 billion, a PE ratio of 218.12, a price-to-earnings-growth ratio of 8.30 and a beta of 1.22. The stock has a 50-day moving average price of $74.81 and a 200-day moving average price of $59.55. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $94.72.

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

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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