Pure Storage (NYSE:PSTG) Hits New 1-Year High – Time to Buy?

Shares of Pure Storage, Inc. (NYSE:PSTG) reached a new 52-week high during trading on Thursday . The stock traded as high as $93.99 and last traded at $93.15, with a volume of 3937603 shares changing hands. The stock had previously closed at $87.90.

Analysts Set New Price Targets

Several research firms have commented on PSTG. Wall Street Zen raised shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. 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. Citigroup lifted their price target on Pure Storage from $70.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Lake Street Capital lifted their price target on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.06.

Pure Storage Trading Down 4.5%

The firm has a market cap of $29.39 billion, a P/E ratio of 218.12, a price-to-earnings-growth ratio of 8.70 and a beta of 1.22. The business has a 50-day moving average of $74.81 and a two-hundred day moving average of $59.41.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data 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. The business had revenue of $861.00 million for 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 quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter 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. As a group, equities analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Activity

In other Pure Storage news, CAO Mona Chu sold 9,091 shares of the business’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 sale, the chief accounting officer directly owned 107,353 shares of the company’s stock, valued at $9,115,343.23. The trade was a 7.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $87.33, for a total transaction of $8,733,000.00. Following the sale, the insider directly owned 300,000 shares in the company, valued at $26,199,000. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 643,111 shares of company stock worth $42,454,009. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Pure Storage

A number of institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC grew its position in shares of Pure Storage by 11.8% in the 2nd quarter. Penserra Capital Management LLC now owns 1,666 shares of the technology company’s stock valued at $95,000 after buying an additional 176 shares during the last quarter. Wedmont Private Capital boosted its holdings in Pure Storage by 4.8% in the third quarter. Wedmont Private Capital now owns 3,991 shares of the technology company’s stock valued at $351,000 after acquiring an additional 182 shares during the last quarter. Empowered Funds LLC boosted its holdings in Pure Storage by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock valued at $212,000 after acquiring an additional 194 shares during the last quarter. Ramirez Asset Management Inc. boosted 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 valued at $40,000 after acquiring an additional 200 shares during the last quarter. Finally, REAP Financial Group LLC boosted its stake in shares of Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

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.