880,707 Shares in Pure Storage, Inc. $PSTG Bought by Woodline Partners LP

Key Points

• Woodline Partners LP invested approximately $38.99 million in Pure Storage, acquiring 880,707 shares of the company's stock, which represents around 0.27% of the firm's total shares.
• Pure Storage's quarterly earnings showed an EPS of $0.43, surpassing estimates and an increase in revenue of 12.7% year-over-year, totaling $861 million.
• Wall Street analysts have raised their target prices for Pure Storage, with some firms predicting it to reach between $70.00 and $88.00, resulting in a consensus rating of "Moderate Buy."

Woodline Partners LP bought a new stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 880,707 shares of the technology company's stock, valued at approximately $38,989,000. Woodline Partners LP owned 0.27% of Pure Storage as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PSTG. McIlrath & Eck LLC bought a new stake in shares of Pure Storage during the fourth quarter valued at approximately $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 valued at $29,000 after buying an additional 233 shares in 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 valued at $35,000 after buying an additional 785 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in Pure Storage during the 1st quarter worth approximately $38,000. Finally, Nisa Investment Advisors LLC grew its position in Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after purchasing an additional 239 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

Insider Transactions at Pure Storage

In other Pure Storage news, Director John Francis Murphy sold 6,959 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $56.17, for a total value of $390,887.03. Following the sale, the director directly owned 19,706 shares in the company, valued at approximately $1,106,886.02. This trade represents a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 198,749 shares of the stock in a transaction on 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 completion of the sale, the insider owned 500,000 shares in the company, valued at approximately $30,160,000. This trade represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 551,360 shares of company stock valued at $33,317,922. 5.60% of the stock is currently owned by company insiders.

Pure Storage Stock Performance

PSTG traded down $0.12 during mid-day trading on Friday, reaching $82.34. The stock had a trading volume of 1,776,369 shares, compared to its average volume of 4,094,776. The firm's fifty day simple moving average is $62.77 and its two-hundred day simple moving average is $54.43. The stock has a market capitalization of $26.91 billion, a P/E ratio of 200.83, a P/E/G ratio of 7.71 and a beta of 1.20. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $83.32.

Pure Storage (NYSE:PSTG - Get Free Report) last released its earnings results 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. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. During the same period in the prior year, the company posted $0.44 EPS. The company's 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, analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Raymond James Financial lifted their price objective on shares of Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Guggenheim reiterated a "buy" rating and issued a $93.00 price objective on shares of Pure Storage in a report on Thursday, August 28th. Northland Securities upped their price target on shares of Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. Citigroup upped their price objective on shares of Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, Evercore ISI upped their price objective on shares of Pure Storage from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pure Storage currently has an average rating of "Moderate Buy" and a consensus price target of $77.39.

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.