Insider Selling: Pure Storage (NYSE:PSTG) Insider Sells 100,000 Shares of Stock

Key Points

• John Colgrove, an insider at Pure Storage, sold 100,000 shares of the company's stock for $8.73 million, reducing his stake by 25% to 300,000 shares valued at approximately $26 million.
• Pure Storage reported earnings of $0.43 per share for the last quarter, surpassing analysts' expectations and achieving a year-over-year revenue increase of 12.7%.
• Institutional investors own 83.42% of Pure Storage's stock, with several firms including MassMutual and SouthState Corp recently increasing their positions in the company.

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) insider John Colgrove sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $87.33, for a total transaction of $8,733,000.00. Following the transaction, the insider directly owned 300,000 shares in the company, valued at approximately $26,199,000. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

John Colgrove also recently made the following trade(s):

• On Wednesday, August 27th, John Colgrove sold 95,300 shares of Pure Storage stock. The shares were sold at an average price of $60.08, for a total transaction of $5,725,624.00.
• On Thursday, July 31st, John Colgrove sold 198,749 shares of Pure Storage stock. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68.
• On Wednesday, July 30th, John Colgrove sold 187,740 shares of Pure Storage stock. The stock was sold at an average price of $60.02, for a total transaction of $11,268,154.80.
• On Tuesday, July 29th, John Colgrove sold 13,511 shares of Pure Storage stock. The shares were sold at an average price of $60.09, for a total transaction of $811,875.99.

Pure Storage Trading Up 1.1%

PSTG traded up $0.95 on Tuesday, reaching $88.80. The stock had a trading volume of 1,060,664 shares, compared to its average volume of 2,894,881. Pure Storage, Inc. has a 12-month low of $34.51 and a 12-month high of $88.83. The business's 50-day moving average price is $66.42 and its two-hundred day moving average price is $55.92. The company has a market cap of $29.18 billion, a P/E ratio of 216.42, a price-to-earnings-growth ratio of 8.16 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last released its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping 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 business had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The company's quarterly revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PSTG shares. Cowen reissued a "buy" rating on shares of Pure Storage in a research note on Thursday, August 28th. Needham & Company LLC increased their price objective on shares of Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Guggenheim reaffirmed a "buy" rating and set a $93.00 price objective on shares of Pure Storage in a research report on Thursday, August 28th. Finally, Lake Street Capital increased 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. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.39.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its stake in shares of Pure Storage by 34.7% in the second quarter. Osaic Holdings Inc. now owns 68,307 shares of the technology company's stock valued at $3,837,000 after purchasing an additional 17,614 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of Pure Storage by 123.7% in the second quarter. Orion Porfolio Solutions LLC now owns 11,660 shares of the technology company's stock valued at $671,000 after purchasing an additional 6,448 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Pure Storage by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 73,176 shares of the technology company's stock valued at $4,213,000 after purchasing an additional 511 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of Pure Storage by 39.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,627 shares of the technology company's stock valued at $94,000 after purchasing an additional 460 shares during the period. Finally, Advisory Services Network LLC lifted its stake in shares of Pure Storage by 12.3% in the second quarter. Advisory Services Network LLC now owns 13,799 shares of the technology company's stock valued at $821,000 after purchasing an additional 1,511 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Company 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.