Pure Storage (NYSE:PSTG) Insider Sells $602,151.90 in Stock

Key Points

• Pure Storage insider Ajay Singh sold 7,014 shares for a total of $602,151.90, reducing his stake in the company by 2.97%.
• The company's stock price is currently at $82.46, with a 52-week range between $34.51 and $89.10.
• Pure Storage recently reported earnings of $0.43 per share, exceeding analyst expectations and showing a 12.7% revenue increase year over year.

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the transaction, the insider owned 229,307 shares in the company, valued at $19,686,005.95. The trade was a 2.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ajay Singh also recently made the following trade(s):

• On Wednesday, July 2nd, Ajay Singh sold 22,601 shares of Pure Storage stock. The shares were sold at an average price of $55.45, for a total value of $1,253,225.45.

Pure Storage Price Performance

NYSE:PSTG traded down $1.01 on Friday, hitting $82.46. 2,406,349 shares of the company's stock were exchanged, compared to its average volume of 2,904,520. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $89.10. The company has a market cap of $27.10 billion, a P/E ratio of 201.13, a price-to-earnings-growth ratio of 7.88 and a beta of 1.20. The firm has a 50-day moving average price of $68.22 and a 200-day moving average price of $56.59.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (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 firm had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. During the same quarter in the prior year, the business posted $0.44 EPS. The business'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. On average, research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of recent research reports. Evercore ISI upped their price target on shares of Pure Storage from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday. Bank of America boosted their price objective on shares of Pure Storage from $76.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. Northland Securities upped their price target on Pure Storage from $63.00 to $71.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Cowen restated a "buy" rating on shares of Pure Storage in a report on Thursday, August 28th. Finally, Needham & Company LLC raised their price target on Pure Storage from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Friday. Fourteen 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 has an average rating of "Moderate Buy" and an average price target of $81.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PSTG. Mechanics Financial Corp purchased a new stake in Pure Storage in the second quarter worth about $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 purchasing an additional 233 shares during the last quarter. True Wealth Design LLC lifted its stake in Pure Storage by 402.8% in the second quarter. True Wealth Design LLC now owns 548 shares of the technology company's stock worth $32,000 after acquiring an additional 439 shares during the last quarter. SouthState Corp increased its stake in Pure Storage by 474.8% in the 2nd quarter. SouthState Corp now owns 592 shares of the technology company's stock valued at $34,000 after buying an additional 489 shares during the period. Finally, FNY Investment Advisers LLC lifted its holdings in Pure Storage by 5,233.3% in the 1st 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 in the last quarter. 83.42% of the stock is owned by 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.

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