Relyea Zuckerberg Hanson LLC Acquires New Stake in Pure Storage, Inc. $PSTG

Relyea Zuckerberg Hanson LLC bought a new position in Pure Storage, Inc. (NYSE:PSTG) in the second quarter, Holdings Channel reports. The firm bought 4,341 shares of the technology company’s stock, valued at approximately $250,000.

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of Pure Storage during the 1st quarter worth $51,000. Merit Financial Group LLC boosted its position in Pure Storage by 17.4% during the first quarter. Merit Financial Group LLC now owns 6,007 shares of the technology company’s stock worth $266,000 after purchasing an additional 891 shares during the period. UMB Bank n.a. increased its stake in shares of Pure Storage by 41.1% in the first quarter. UMB Bank n.a. now owns 3,545 shares of the technology company’s stock worth $157,000 after purchasing an additional 1,032 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Pure Storage by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 2,634 shares of the technology company’s stock valued at $120,000 after purchasing an additional 649 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Pure Storage by 59.4% during the 1st quarter. GAMMA Investing LLC now owns 5,118 shares of the technology company’s stock valued at $227,000 after buying an additional 1,908 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Raymond James Financial lifted their price target on Pure Storage from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Needham & Company LLC boosted their price objective on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Citigroup raised their target price on Pure Storage from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Cowen reaffirmed a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Fourteen 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.06.

Pure Storage Stock Performance

NYSE:PSTG opened at $90.29 on Tuesday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $91.39. The stock has a fifty day moving average of $72.18 and a 200 day moving average of $58.43. The firm has a market capitalization of $29.67 billion, a price-to-earnings ratio of 220.22, a P/E/G ratio of 8.07 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 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 business had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. During the same period in the prior year, the company earned $0.44 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Mona Chu sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total value of $1,338,925.00. Following the sale, the chief accounting officer directly owned 138,899 shares of the company’s stock, valued at $10,627,162.49. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ajay Singh sold 7,014 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the completion of the transaction, the insider directly owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 650,070 shares of company stock valued at $42,844,896 in the last 90 days. 5.60% of the stock is owned by company insiders.

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.