Pure Storage (NYSE:PSTG) Insider Sells $9,249,000.00 in Stock

Key Points

• Insider John Colgrove sold 100,000 shares of Pure Storage stock for a total of $9,249,000, reducing his ownership by 33.33%.
• Pure Storage stock is down 0.7%, trading at $91.91, with a market capitalization of $30.21 billion.
• The company recently reported $0.43 EPS, surpassing analysts' estimates and demonstrating a 12.7% year-over-year revenue increase to $861 million.

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) insider John Colgrove sold 100,000 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $92.49, for a total transaction of $9,249,000.00. Following the sale, the insider directly owned 200,000 shares of the company's stock, valued at $18,498,000. This represents a 33.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, September 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The shares were sold at an average price of $87.33, for a total value of $8,733,000.00.
• On Wednesday, August 27th, John Colgrove sold 95,300 shares of Pure Storage stock. The stock was 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 shares were 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 value of $11,268,154.80.
• On Tuesday, July 29th, John Colgrove sold 13,511 shares of Pure Storage stock. The stock was sold at an average price of $60.09, for a total value of $811,875.99.

Pure Storage Stock Down 0.7%

Shares of NYSE PSTG traded down $0.67 during mid-day trading on Thursday, reaching $91.91. 2,454,005 shares of the company were exchanged, compared to its average volume of 2,899,846. The company's 50-day simple moving average is $77.65 and its 200-day simple moving average is $60.65. The stock has a market capitalization of $30.21 billion, a P/E ratio of 224.18, a P/E/G ratio of 8.59 and a beta of 1.22. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $95.14.

Pure Storage (NYSE:PSTG - Get Free Report) last posted 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. The company had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. Pure Storage's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Pure Storage

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mechanics Financial Corp bought a new position in Pure Storage during the 2nd quarter worth approximately $25,000. True Wealth Design LLC raised its holdings in 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 purchasing an additional 439 shares during the last quarter. SouthState Corp raised its holdings in Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company's stock worth $34,000 after purchasing an additional 489 shares during the last quarter. FNY Investment Advisers LLC raised its holdings in Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock worth $35,000 after purchasing an additional 785 shares during the last quarter. Finally, REAP Financial Group LLC raised its holdings in Pure Storage by 49.0% during the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock worth $35,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of several recent analyst reports. Piper Sandler set a $92.00 target price on shares of Pure Storage and gave the company an "overweight" rating in a report on Thursday, September 25th. Needham & Company LLC upped their price target on shares of Pure Storage from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Morgan Stanley upped their price target 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. Northland Securities upped their price target on shares of Pure Storage from $63.00 to $71.00 and gave the stock a "market perform" rating in a report on Thursday, August 28th. Finally, Evercore ISI upped their price target on shares of Pure Storage from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.44.

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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