Wellington Management Group LLP Has $730,000 Stake in Pure Storage, Inc. $PSTG

Wellington Management Group LLP decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 89.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,480 shares of the technology company's stock after selling 134,329 shares during the quarter. Wellington Management Group LLP's holdings in Pure Storage were worth $730,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC acquired a new position in Pure Storage during the fourth quarter worth $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in Pure Storage by 55.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after acquiring an additional 233 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in Pure Storage by 5,233.3% in the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after acquiring an additional 785 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in Pure Storage in the first quarter valued at $38,000. Finally, Nisa Investment Advisors LLC lifted its stake in Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock valued at $40,000 after acquiring an additional 239 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Buying and Selling at Pure Storage

In related news, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $55.13, for a total transaction of $619,330.42. Following the transaction, the director directly owned 21,930 shares of the company's stock, valued at approximately $1,209,000.90. This trade represents a 33.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 198,749 shares of the firm's stock in a transaction dated 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 directly owned 500,000 shares in the company, valued at approximately $30,160,000. This represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 542,094 shares of company stock valued at $32,367,537 in the last three months. 5.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup increased their price target on shares of Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday. Wall Street Zen upgraded shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Saturday. Evercore ISI increased their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Morgan Stanley increased their price target 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. Finally, Bank of America increased their price target on shares of Pure Storage from $76.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of "Moderate Buy" and an average price target of $77.11.

Pure Storage Price Performance

Shares of PSTG opened at $77.48 on Tuesday. The firm has a market capitalization of $25.32 billion, a PE ratio of 188.99, a PEG ratio of 8.49 and a beta of 1.20. The company's 50-day moving average is $58.48 and its 200-day moving average is $53.41. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $80.68.

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, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company's revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Analysts predict 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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