Teacher Retirement System of Texas Buys 1,725 Shares of Pure Storage, Inc. $PSTG

Teacher Retirement System of Texas lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,048 shares of the technology company’s stock after acquiring an additional 1,725 shares during the quarter. Teacher Retirement System of Texas’ holdings in Pure Storage were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Mechanics Financial Corp bought a new position in shares of Pure Storage during the second quarter worth about $25,000. REAP Financial Group LLC increased its holdings in Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock worth $35,000 after purchasing an additional 201 shares in the last quarter. Ramirez Asset Management Inc. increased its holdings in Pure Storage by 40.0% in the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. American National Bank & Trust bought a new stake in Pure Storage in the second quarter worth approximately $45,000. Finally, TruNorth Capital Management LLC bought a new stake in Pure Storage in the first quarter worth approximately $38,000. 83.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group set a $110.00 target price on Pure Storage in a report on Tuesday, October 21st. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. JPMorgan Chase & Co. lifted their target price on Pure Storage from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Northland Securities lifted their target price on Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Finally, Wells Fargo & Company lifted their target price on Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.56.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $98.77 on Monday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $99.02. The stock has a 50 day moving average price of $85.59 and a two-hundred day moving average price of $65.12. The stock has a market capitalization of $32.46 billion, a PE ratio of 240.90, a price-to-earnings-growth ratio of 8.99 and a beta of 1.22.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.Pure Storage’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Activity at Pure Storage

In related news, CAO Mona Chu sold 17,500 shares of Pure Storage stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the transaction, the chief accounting officer owned 138,899 shares of the company’s stock, valued at $10,627,162.49. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Dan Fitzsimons sold 6,051 shares of Pure Storage stock in a transaction that occurred 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 directly owned 62,759 shares in the company, valued at approximately $5,486,391.78. The trade was a 8.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 343,111 shares of company stock valued at $27,634,439 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

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.