William Blair Investment Management LLC Acquires 2,612,300 Shares of Pure Storage, Inc. $PSTG

Key Points

• William Blair Investment Management LLC increased its shareholding in Pure Storage by 112.9%, acquiring an additional 2,612,300 shares, bringing its total to 4,926,836 shares.
• Pure Storage reported a 12.7% year-over-year revenue increase for the last quarter, with earnings per share of $0.43, exceeding analysts' expectations of $0.39.
• Institutional investors own 83.42% of Pure Storage's stock, indicating strong interest from larger funds and financial institutions.

William Blair Investment Management LLC raised its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 112.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,926,836 shares of the technology company's stock after purchasing an additional 2,612,300 shares during the period. Pure Storage accounts for about 0.8% of William Blair Investment Management LLC's holdings, making the stock its 25th largest holding. William Blair Investment Management LLC owned about 1.51% of Pure Storage worth $283,687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Financial Corp bought a new position in Pure Storage during the 2nd quarter valued at approximately $25,000. REAP Financial Group LLC grew its holdings in shares of Pure Storage by 49.0% during the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock worth $35,000 after acquiring an additional 201 shares during the period. Ramirez Asset Management Inc. grew its holdings in shares of Pure Storage by 40.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company's stock worth $40,000 after acquiring an additional 200 shares during the period. American National Bank & Trust purchased a new position in shares of Pure Storage during the 2nd quarter worth approximately $45,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of Pure Storage during the 1st quarter worth approximately $38,000. Institutional investors own 83.42% of the company's stock.

Pure Storage Trading Down 0.1%

Shares of NYSE:PSTG opened at $91.86 on Friday. The stock has a fifty day simple moving average of $78.32 and a two-hundred day simple moving average of $60.97. The stock has a market capitalization of $30.19 billion, a price-to-earnings ratio of 224.05, a PEG ratio of 8.54 and a beta of 1.22. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $95.14.

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

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,014 shares of the 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 sale, the insider directly owned 229,307 shares in the company, valued at approximately $19,686,005.95. This trade represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 9,091 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total value of $771,916.81. Following the sale, the chief accounting officer owned 107,353 shares in the company, valued at approximately $9,115,343.23. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 743,111 shares of company stock worth $51,703,009. Insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSTG shares. Cowen reiterated a "buy" rating on shares of Pure Storage in a report on Thursday, August 28th. Lake Street Capital upped their target price on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Morgan Stanley upped 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. Piper Sandler set a $92.00 target price on Pure Storage and gave the stock an "overweight" rating in a report on Thursday, September 25th. Finally, Evercore ISI upped their target price on Pure Storage from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pure Storage has a consensus rating of "Moderate Buy" and an average price target of $83.06.

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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