Pure Storage (NYSE:PSTG - Get Free Report) announced its quarterly earnings results on Wednesday. The technology company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04, Briefing.com reports. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. The firm had revenue of $778.49 million for the quarter, compared to analyst estimates of $770.03 million. During the same period last year, the business earned $0.32 EPS. Pure Storage's revenue for the quarter was up 12.3% compared to the same quarter last year. Pure Storage updated its Q2 2026 guidance to EPS and its FY 2026 guidance to EPS.
Pure Storage Price Performance
PSTG traded down $0.06 during midday trading on Monday, reaching $53.53. 2,843,398 shares of the company's stock were exchanged, compared to its average volume of 3,008,575. The stock has a market capitalization of $17.45 billion, a PE ratio of 140.88, a P/E/G ratio of 5.12 and a beta of 1.05. The business's 50-day moving average price is $47.40 and its 200 day moving average price is $56.00. Pure Storage has a 1-year low of $34.51 and a 1-year high of $73.67.
Insiders Place Their Bets
In related news, insider John Colgrove sold 100,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the transaction, the insider now owns 801,959 shares of the company's stock, valued at approximately $41,709,887.59. This represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 6,977 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the transaction, the executive now directly owns 90,223 shares of the company's stock, valued at $3,691,022.93. This trade represents a 7.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,849 shares of company stock worth $5,531,346. Insiders own 5.60% of the company's stock.
Hedge Funds Weigh In On Pure Storage
Several institutional investors and hedge funds have recently bought and sold shares of PSTG. Empowered Funds LLC increased its position in Pure Storage by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company's stock worth $212,000 after purchasing an additional 194 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Pure Storage by 129.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company's stock worth $387,000 after purchasing an additional 4,926 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Pure Storage during the first quarter worth approximately $541,000. Finally, Goldman Sachs Group Inc. increased its position in Pure Storage by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company's stock worth $50,377,000 after purchasing an additional 595,307 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.
Wall Street Analysts Forecast Growth
PSTG has been the topic of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price target on shares of Pure Storage in a research note on Thursday. Wedbush reissued an "outperform" rating and set a $70.00 price objective on shares of Pure Storage in a research report on Thursday. Evercore ISI raised their price objective on shares of Pure Storage from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Pure Storage from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Barclays lowered their price objective on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.95.
Check Out Our Latest Research Report on Pure Storage
About Pure Storage
(
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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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