Insider Selling: Pure Storage (NYSE:PSTG) CAO Sells 9,091 Shares of Stock

Key Points

• Mona Chu, the Chief Accounting Officer of Pure Storage, sold 9,091 shares of company stock on October 1st for a total of $771,916.81, reducing her ownership by 7.81%.
• Despite insider selling, Pure Storage's stock price increased by 2.2% to $85.63, indicating strong market interest with a trading volume above its average.
• Analysts remain bullish on Pure Storage, with a consensus rating of "Moderate Buy" and an average price target of $81.06, reflecting confidence in the company's growth potential.

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) CAO Mona Chu sold 9,091 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the completion of the sale, the chief accounting officer owned 107,353 shares of the company's stock, valued at $9,115,343.23. This represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, September 23rd, Mona Chu sold 5,155 shares of Pure Storage stock. The shares were sold at an average price of $88.08, for a total value of $454,052.40.
• 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 transaction of $1,338,925.00.

Pure Storage Trading Up 2.2%

NYSE:PSTG traded up $1.82 on Wednesday, hitting $85.63. The company had a trading volume of 4,062,027 shares, compared to its average volume of 3,167,043. The firm has a 50 day moving average of $70.35 and a two-hundred day moving average of $57.55. The stock has a market capitalization of $28.14 billion, a price-to-earnings ratio of 208.85, a PEG ratio of 7.79 and a beta of 1.22. 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 released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The business had revenue of $861.00 million for the quarter, compared to analysts' expectations of $845.78 million. During the same period in the previous year, the company earned $0.44 earnings per share. The firm's revenue for the quarter 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, equities analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PSTG. Citigroup boosted their target price on shares of Pure Storage from $70.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Cowen reaffirmed a "buy" rating on shares of Pure Storage in a research note on Thursday, August 28th. Lake Street Capital boosted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Wells Fargo & Company increased their price objective on Pure Storage from $80.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. Finally, Bank of America raised their price objective on Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Pure Storage currently has a consensus rating of "Moderate Buy" and an average price target of $81.06.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted its position in shares of Pure Storage by 11.8% during the 2nd quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company's stock worth $95,000 after purchasing an additional 176 shares in the last quarter. Empowered Funds LLC grew its position in Pure Storage by 4.2% in 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. boosted its position in 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. REAP Financial Group LLC raised its stake in shares of Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock valued at $35,000 after acquiring an additional 201 shares in the last quarter. Finally, GraniteShares Advisors LLC raised its stake in shares of Pure Storage by 2.6% in the second quarter. GraniteShares Advisors LLC now owns 8,001 shares of the technology company's stock valued at $461,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors 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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