West Bancorporation Inc. Purchases Shares of 4,299 Pure Storage, Inc. $PSTG

Key Points

• West Bancorporation Inc. acquired 4,299 shares of Pure Storage, Inc. valued at approximately $248,000 in the 2nd quarter, as per their latest SEC filing.
• Shares of Pure Storage opened at $89.43 with a market capitalization of $29.39 billion and earnings per share (EPS) of $0.43 for Q2, beating analyst estimates.
• Several analysts, including Bank of America and Needham & Company, have raised their target prices for Pure Storage stock, with an average consensus target of $81.06 and a "Moderate Buy" rating.

West Bancorporation Inc. purchased a new stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,299 shares of the technology company's stock, valued at approximately $248,000.

Several other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Pure Storage by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company's stock valued at $212,000 after buying an additional 194 shares in the last quarter. Ramirez Asset Management Inc. grew its holdings in Pure Storage by 40.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company's stock valued at $40,000 after buying an additional 200 shares in the last quarter. REAP Financial Group LLC grew its holdings in Pure Storage by 49.0% during the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock valued at $35,000 after buying an additional 201 shares in the last quarter. GraniteShares Advisors LLC grew its holdings in Pure Storage by 2.6% during the 2nd quarter. GraniteShares Advisors LLC now owns 8,001 shares of the technology company's stock valued at $461,000 after buying an additional 206 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Pure Storage by 35.6% in 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. Hedge funds and other institutional investors own 83.42% of the company's stock.

Pure Storage Stock Performance

Shares of PSTG stock opened at $89.43 on Friday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $94.72. The firm has a market capitalization of $29.39 billion, a P/E ratio of 218.12, a P/E/G ratio of 8.70 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 $59.41.

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, topping analysts' consensus estimates of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. During the same period last year, the company earned $0.44 EPS. Pure Storage's quarterly revenue was up 12.7% compared to the same quarter last year. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, sell-side analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSTG. Bank of America boosted their target price on Pure Storage from $76.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Cowen reiterated a "buy" rating on shares of Pure Storage in a research report on Thursday, August 28th. Barclays boosted 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 report on Friday, August 29th. Needham & Company LLC boosted their price objective on shares of Pure Storage from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Finally, Evercore ISI boosted their price objective on shares of Pure Storage from $85.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, September 26th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.06.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the completion of the sale, the insider directly owned 229,307 shares of the company's stock, valued at $19,686,005.95. The trade was a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Dan Fitzsimons sold 6,051 shares of Pure Storage stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total value of $528,978.42. Following the sale, the executive directly owned 62,759 shares of the company's stock, valued at approximately $5,486,391.78. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 643,111 shares of company stock worth $42,454,009 over the last quarter. Insiders own 5.60% of the company's stock.

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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