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

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $92.49, for a total transaction of $9,249,000.00. Following the sale, the insider owned 200,000 shares of the company’s stock, valued at $18,498,000. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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 transaction of $8,733,000.00.
• 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 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 shares were 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 Price Performance

Shares of NYSE:PSTG opened at $91.86 on Friday. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $95.14. The company has a market capitalization of $30.19 billion, a P/E ratio of 224.05, a P/E/G ratio of 8.53 and a beta of 1.22. The firm’s 50 day simple moving average is $78.32 and its two-hundred day simple moving average is $61.08.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $845.78 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’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. On average, sell-side analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Northland Securities lifted their price target on shares of Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Raymond James Financial boosted their target price on shares of Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Pure Storage from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday. Cowen reissued a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a report on Wednesday, October 8th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.06.

Institutional Investors Weigh In On Pure Storage

A number of hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC raised its stake in Pure Storage by 11.8% during the second quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock valued at $95,000 after purchasing an additional 176 shares in the last quarter. Wedmont Private Capital raised its stake in Pure Storage by 4.8% during the third quarter. Wedmont Private Capital now owns 3,991 shares of the technology company’s stock valued at $351,000 after purchasing an additional 182 shares in the last quarter. Empowered Funds LLC raised its stake in Pure Storage by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock valued at $212,000 after purchasing an additional 194 shares in the last quarter. Ramirez Asset Management Inc. raised its stake in Pure Storage by 40.0% during the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 200 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC raised its stake in Pure Storage by 3.5% during the third quarter. Legacy Wealth Asset Management LLC now owns 5,969 shares of the technology company’s stock valued at $500,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

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.