Pure Storage (NYSE:PSTG) CRO Sells $528,978.42 in Stock

Key Points

• Pure Storage's Chief Revenue Officer, Dan Fitzsimons, sold 6,051 shares valued at $528,978.42, reducing his ownership by 8.79% to 62,759 shares.
• The company's stock recently increased by 0.6%, trading at $88.38, with analysts predicting a moderate buy consensus and an average target price of $77.39.
• In its latest quarterly earnings report, Pure Storage exceeded expectations with a revenue of $861 million and an EPS of $0.43, showcasing a significant year-over-year revenue growth of 12.7%.

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) CRO Dan Fitzsimons sold 6,051 shares of the firm's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total value of $528,978.42. Following the transaction, the executive owned 62,759 shares of the company's stock, valued at $5,486,391.78. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Pure Storage Stock Up 0.6%

Shares of NYSE:PSTG traded up $0.53 on Tuesday, hitting $88.38. 3,160,097 shares of the company traded hands, compared to its average volume of 2,906,979. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $89.10. The stock has a 50 day simple moving average of $67.10 and a 200-day simple moving average of $56.15. The company has a market cap of $29.04 billion, a PE ratio of 215.55, a PEG ratio of 8.16 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. During the same period last year, the company earned $0.44 EPS. Pure Storage's revenue for the quarter 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, sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Guggenheim reissued a "buy" rating and issued a $93.00 price objective on shares of Pure Storage in a report on Thursday, August 28th. Morgan Stanley raised their price objective 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. Evercore ISI lifted their price objective on Pure Storage from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Northland Securities lifted their price objective on Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Finally, Barclays lifted their price objective on Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research report on Friday, August 29th. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $77.39.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mechanics Financial Corp bought a new position in Pure Storage during the second quarter valued at approximately $25,000. True Wealth Design LLC raised its holdings in shares of Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company's stock worth $32,000 after acquiring an additional 439 shares in the last quarter. SouthState Corp boosted its position in shares of Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company's stock valued at $34,000 after acquiring an additional 489 shares during the last quarter. REAP Financial Group LLC grew its holdings in shares of Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock valued at $35,000 after purchasing an additional 201 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Pure Storage by 55.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after purchasing an additional 233 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

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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