Private Trust Co. NA Trims Position in Pure Storage, Inc. $PSTG

Private Trust Co. NA decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 27.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 472 shares of the technology company’s stock after selling 181 shares during the period. Private Trust Co. NA’s holdings in Pure Storage were worth $27,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its stake in Pure Storage by 25.9% during the first 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 Pure Storage during the first quarter worth approximately $38,989,000. Nuveen LLC purchased a new position in Pure Storage during the first quarter worth approximately $32,410,000. Goldman Sachs Group Inc. raised its stake in Pure Storage by 109.7% during the first 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 Pure Storage during the first quarter worth approximately $24,462,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of recent analyst reports. Raymond James Financial increased their price target on shares of Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Cowen reaffirmed a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Citigroup increased their price target on shares of Pure Storage from $81.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday. Evercore ISI increased their price objective on shares of Pure Storage from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Wall Street Zen raised shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Fourteen 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.56.

Pure Storage Trading Up 0.2%

PSTG opened at $93.81 on Friday. The company has a fifty day simple moving average of $81.62 and a 200 day simple moving average of $62.75. The firm has a market cap of $30.83 billion, a price-to-earnings ratio of 228.80, a PEG ratio of 8.63 and a beta of 1.22. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $96.08.

Pure Storage (NYSE:PSTG) last released its quarterly 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 net margin of 4.15% and a return on equity of 11.34%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 198,749 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the completion of the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at $30,160,000. This trade represents a 28.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mona Chu sold 17,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the transaction, the chief accounting officer directly owned 138,899 shares of the company’s stock, valued at approximately $10,627,162.49. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 743,111 shares of company stock valued at $51,703,009 in the last 90 days. 5.60% of the stock is currently owned by 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.