Wedmont Private Capital Invests $222,000 in Pure Storage, Inc. $PSTG

Key Points

• Wedmont Private Capital has invested $222,000 in Pure Storage, acquiring 3,809 shares of the company's stock in Q2, indicating growing institutional interest.
• Analysts have recently raised their price targets for Pure Storage, with Morgan Stanley and Northland Securities setting new targets at $72.00 and $71.00, respectively, reflecting increased optimism about the company's prospects.
• Insider trading activity showed significant sales, with Director Roxanne Taylor selling 3,000 shares at an average price of $76.93, suggesting a degree of caution among company leaders.

Wedmont Private Capital purchased a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,809 shares of the technology company's stock, valued at approximately $222,000.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after purchasing an additional 233 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in 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 in the last quarter. TruNorth Capital Management LLC acquired a new stake in Pure Storage in the 1st quarter valued at $38,000. Nisa Investment Advisors LLC raised its stake in shares of Pure Storage by 35.6% during the first 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. Finally, Banque Transatlantique SA purchased a new stake in shares of Pure Storage during the first quarter valued at approximately $43,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on PSTG shares. Morgan Stanley lifted their price objective on shares of Pure Storage from $60.00 to $72.00 and gave the company an "equal weight" rating in a research note on Thursday, August 28th. Northland Securities lifted their price objective on shares of Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Barclays lifted their price objective on shares of Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Wedbush lifted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pure Storage has an average rating of "Moderate Buy" and a consensus price target of $77.39.

Insider Buying and Selling

In other news, Director Roxanne Taylor sold 3,000 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total value of $230,790.00. Following the transaction, the director owned 16,343 shares in the company, valued at $1,257,266.99. This represents a 15.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Francis Murphy sold 6,959 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $56.17, for a total value of $390,887.03. Following the completion of the transaction, the director owned 19,706 shares in the company, valued at $1,106,886.02. This represents a 26.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 645,360 shares of company stock worth $41,741,022 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Trading Up 0.2%

Shares of NYSE PSTG opened at $88.02 on Tuesday. The firm has a 50-day moving average of $66.42 and a two-hundred day moving average of $55.92. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of 214.68, a PEG ratio of 8.16 and a beta of 1.20. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $88.55.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $861.00 million for 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 business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.

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