Vident Advisory LLC Sells 21,175 Shares of Pure Storage, Inc. $PSTG

Key Points

• Vident Advisory LLC sold 21,175 shares of Pure Storage, reducing its holdings by 52.2%, leaving them with 19,380 shares worth approximately $858,000.
• Analysts show optimism for Pure Storage, with multiple target price increases; Morgan Stanley raised its target to $72.00 and Needham lifted theirs to $85.00.
• In the last 90 days, insiders have sold 548,360 shares of Pure Storage stock, with notable transactions by Director John Francis Murphy and CAO Mona Chu.

Vident Advisory LLC decreased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 52.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,380 shares of the technology company's stock after selling 21,175 shares during the period. Vident Advisory LLC's holdings in Pure Storage were worth $858,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. McIlrath & Eck LLC bought a new stake in shares of Pure Storage in the fourth quarter worth about $25,000. MassMutual Private Wealth & Trust FSB increased its holdings 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 purchasing an additional 233 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Pure Storage by 5,233.3% in the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after purchasing an additional 785 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in shares of Pure Storage in the first quarter worth about $38,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after purchasing an additional 239 shares during the last quarter. Institutional investors own 83.42% of the company's stock.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several research reports. Morgan Stanley lifted their target price on Pure Storage from $60.00 to $72.00 and gave the stock an "equal weight" 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. Needham & Company LLC lifted their target price on Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Cowen reaffirmed a "buy" rating on shares of Pure Storage in a report on Thursday, August 28th. Finally, Evercore ISI lifted their target price on Pure Storage from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday. Fourteen equities research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.39.

Insider Activity

In other news, Director John Francis Murphy sold 6,959 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $56.17, for a total transaction of $390,887.03. Following the transaction, the director 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 filing with the SEC, which can be accessed through this link. Also, CAO Mona Chu sold 17,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total value of $1,338,925.00. Following the transaction, the chief accounting officer directly owned 138,899 shares in the company, valued at approximately $10,627,162.49. This represents a 11.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 548,360 shares of company stock valued at $33,087,132. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $78.60 on Friday. The business's 50 day moving average is $59.85 and its two-hundred day moving average is $53.82. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $80.68. The stock has a market capitalization of $25.69 billion, a P/E ratio of 191.72, a PEG ratio of 7.28 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings data 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. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $861.00 million for the quarter, compared to analysts' expectations of $845.78 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

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.

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