Greenwood Gearhart Inc. Invests $210,000 in Pure Storage, Inc. $PSTG

Greenwood Gearhart Inc. bought a new position in Pure Storage, Inc. (NYSE:PSTG) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 3,650 shares of the technology company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSTG. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Pure Storage by 25.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock worth $401,793,000 after purchasing an additional 1,868,782 shares during the period. Woodline Partners LP purchased a new position in shares of Pure Storage in the 1st quarter worth approximately $38,989,000. Nuveen LLC purchased a new position in shares of Pure Storage in the 1st quarter worth approximately $32,410,000. Goldman Sachs Group Inc. boosted its holdings in shares of Pure Storage by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock worth $50,377,000 after purchasing an additional 595,307 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Pure Storage in the 1st quarter worth approximately $24,462,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 6,051 shares of Pure Storage stock in a transaction 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 $5,486,391.78. The trade was a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ajay Singh sold 7,014 shares of Pure Storage stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the transaction, the insider owned 229,307 shares in the company, valued at $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 643,111 shares of company stock worth $42,454,009 over the last quarter. Insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PSTG shares. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Raymond James Financial raised their price target on Pure Storage from $76.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Northland Securities raised their price target on 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 raised their price target on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Finally, Barclays raised their price target on Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $81.06.

Pure Storage Stock Down 4.5%

Shares of NYSE PSTG opened at $89.43 on Friday. The business has a fifty day simple moving average of $74.81 and a two-hundred day simple moving average of $59.41. The firm has a market cap of $29.39 billion, a PE ratio of 218.12, a price-to-earnings-growth ratio of 8.70 and a beta of 1.22. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $94.72.

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