Insider Selling: Pure Storage (NYSE:PSTG) CAO Sells $454,052.40 in Stock

Key Points

• Mona Chu, the Chief Accounting Officer of Pure Storage, sold 5,155 shares of stock for a total of $454,052.40, reducing her ownership by 4.24% to 116,444 shares.
• Pure Storage reported a 12.7% year-over-year increase in revenue with $861 million for the quarter, surpassing analysts' expectations.
• Multiple analysts have raised their price targets for Pure Storage, with Citigroup increasing it from $70 to $81, while Needham & Company set a target of $85.

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) CAO Mona Chu sold 5,155 shares of the business's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $88.08, for a total transaction of $454,052.40. Following the sale, the chief accounting officer directly owned 116,444 shares in the company, valued at approximately $10,256,387.52. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mona Chu also recently made the following trade(s):

• On Tuesday, September 2nd, Mona Chu sold 17,500 shares of Pure Storage stock. The stock was sold at an average price of $76.51, for a total value of $1,338,925.00.

Pure Storage Price Performance

Pure Storage stock traded up $0.53 during mid-day trading on Tuesday, hitting $88.38. The company's stock had a trading volume of 3,160,097 shares, compared to its average volume of 2,906,979. The firm's 50 day moving average is $67.10 and its 200 day moving average is $56.15. The company has a market cap of $29.04 billion, a PE ratio of 215.55, a price-to-earnings-growth ratio of 8.16 and a beta of 1.20. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $89.10.

Pure Storage (NYSE:PSTG - Get Free Report) last issued 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. The company had revenue of $861.00 million during 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 for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSTG. Citigroup raised their price target on shares of Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Bank of America lifted their target price on shares of Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Lake Street Capital lifted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Needham & Company LLC lifted their target price on shares of Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Finally, Morgan Stanley lifted their target price on shares of Pure Storage from $60.00 to $72.00 and gave the stock an "equal weight" rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $77.39.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PSTG. Mechanics Financial Corp acquired a new position in shares of Pure Storage in the second quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB increased its position in Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after buying an additional 233 shares during the last quarter. True Wealth Design LLC raised its position in shares of Pure Storage by 402.8% in the second quarter. True Wealth Design LLC now owns 548 shares of the technology company's stock valued at $32,000 after purchasing an additional 439 shares during the period. SouthState Corp raised its position in shares of Pure Storage by 474.8% in the second quarter. SouthState Corp now owns 592 shares of the technology company's stock valued at $34,000 after purchasing an additional 489 shares during the period. Finally, FNY Investment Advisers LLC raised its position 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 purchasing an additional 785 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

About Pure Storage

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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