Pure Storage (NYSE:PSTG) CAO Mona Chu Sells 9,091 Shares of Stock

Pure Storage, Inc. (NYSE:PSTG) CAO Mona Chu sold 9,091 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total transaction of $771,916.81. Following the completion of the sale, the chief accounting officer directly owned 107,353 shares in the company, valued at $9,115,343.23. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Mona Chu also recently made the following trade(s):

• On Tuesday, September 23rd, Mona Chu sold 5,155 shares of Pure Storage stock. The shares were sold at an average price of $88.08, for a total transaction of $454,052.40.
• On Tuesday, September 2nd, Mona Chu sold 17,500 shares of Pure Storage stock. The shares were sold at an average price of $76.51, for a total transaction of $1,338,925.00.

Pure Storage Stock Performance

Pure Storage stock opened at $85.63 on Thursday. The firm’s fifty day moving average price is $70.35 and its 200-day moving average price is $57.55. The stock has a market cap of $28.14 billion, a P/E ratio of 208.85, a price-to-earnings-growth ratio of 7.79 and a beta of 1.22. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $89.10.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data 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 firm had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $845.78 million. During the same quarter last year, the company posted $0.44 EPS. The business’s quarterly 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, analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PSTG. Wellington Management Group LLP increased its stake in shares of Pure Storage by 285.2% in the fourth quarter. Wellington Management Group LLP now owns 150,809 shares of the technology company’s stock worth $9,264,000 after buying an additional 111,655 shares during the period. MassMutual Private Wealth & Trust FSB increased its position 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 valued at $29,000 after acquiring an additional 233 shares during the period. Versant Capital Management Inc increased its position in shares of Pure Storage by 467.7% in the first quarter. Versant Capital Management Inc now owns 1,107 shares of the technology company’s stock valued at $49,000 after acquiring an additional 912 shares during the period. GAMMA Investing LLC increased its holdings in Pure Storage by 6,958.4% during the 1st quarter. GAMMA Investing LLC now owns 226,574 shares of the technology company’s stock valued at $10,030,000 after purchasing an additional 223,364 shares during the period. Finally, NBC Securities Inc. purchased a new position in Pure Storage during the 1st quarter valued at about $51,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSTG. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Morgan Stanley lifted their price target on shares of Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 28th. Northland Securities lifted their price target on shares of Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Bank of America lifted 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. Finally, Wells Fargo & Company lifted their target price on shares of Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Fourteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.06.

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.