Taylor Frigon Capital Management LLC Buys 9,709 Shares of Pure Storage, Inc. $PSTG

Taylor Frigon Capital Management LLC grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 23.2% during the second quarter, Holdings Channel reports. The institutional investor owned 51,526 shares of the technology company’s stock after buying an additional 9,709 shares during the period. Pure Storage comprises 1.5% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 14th biggest position. Taylor Frigon Capital Management LLC’s holdings in Pure Storage were worth $2,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Pure Storage by 55.9% in 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 in the last quarter. American National Bank & Trust bought a new position in Pure Storage in the 2nd quarter worth $45,000. FNY Investment Advisers LLC increased its stake 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 worth $35,000 after buying an additional 785 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in Pure Storage during the first quarter valued at about $38,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after acquiring an additional 239 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on PSTG shares. Morgan Stanley boosted their price target on Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Bank of America boosted their price target on shares of Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Cowen reaffirmed a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Finally, Wedbush increased their price target on Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.06.

Insider Buying and Selling

In related news, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total transaction of $528,978.42. Following the completion of the sale, the executive directly owned 62,759 shares of the company’s stock, valued at approximately $5,486,391.78. This trade represents a 8.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roxanne Taylor sold 3,000 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the transaction, the director owned 16,343 shares of the company’s stock, valued at approximately $1,257,266.99. The trade was a 15.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 663,580 shares of company stock worth $43,326,205 over the last three months. 5.60% of the stock is currently owned by company insiders.

Pure Storage Trading Down 1.2%

PSTG opened at $82.46 on Monday. The firm has a market cap of $27.10 billion, a P/E ratio of 201.13, a P/E/G ratio of 7.65 and a beta of 1.20. The stock has a 50-day moving average of $68.71 and a 200 day moving average of $56.94. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $89.10.

Pure Storage (NYSE:PSTG) last issued its quarterly 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 return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. During the same period last year, the company earned $0.44 earnings per share. Pure Storage’s revenue 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, research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

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.