City State Bank Purchases 525 Shares of Pure Storage, Inc. $PSTG

City State Bank lifted its position in Pure Storage, Inc. (NYSE:PSTG) by 80.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,175 shares of the technology company’s stock after buying an additional 525 shares during the quarter. City State Bank’s holdings in Pure Storage were worth $68,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC bought a new stake in shares of Pure Storage in the 2nd quarter worth about $316,000. AlphaQuest LLC grew its holdings in shares of Pure Storage by 1,513.7% in the 2nd quarter. AlphaQuest LLC now owns 21,349 shares of the technology company’s stock worth $1,229,000 after purchasing an additional 20,026 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Pure Storage by 4.2% during the 2nd quarter. Asset Management One Co. Ltd. now owns 127,045 shares of the technology company’s stock worth $7,315,000 after acquiring an additional 5,150 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in Pure Storage during the 2nd quarter worth about $463,000. Finally, Forum Financial Management LP bought a new stake in Pure Storage during the 2nd quarter worth about $264,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

Shares of PSTG stock opened at $93.81 on Friday. The company has a market capitalization of $30.83 billion, a P/E ratio of 228.80, a price-to-earnings-growth ratio of 8.65 and a beta of 1.22. The company’s 50 day moving average price is $81.62 and its two-hundred day moving average price is $62.91. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $96.08.

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

Insider Activity

In other news, CAO Mona Chu sold 9,091 shares of Pure Storage stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total value of $771,916.81. Following the completion of the transaction, the chief accounting officer owned 107,353 shares of the company’s stock, valued at $9,115,343.23. This trade represents a 7.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the executive directly owned 62,759 shares of the company’s stock, valued at approximately $5,486,391.78. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 743,111 shares of company stock worth $51,703,009. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PSTG shares. JPMorgan Chase & Co. increased their price objective on shares of Pure Storage from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Wells Fargo & Company increased their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Citigroup increased their price objective on shares of Pure Storage from $81.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James Financial increased their price objective on shares of Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Northland Securities increased their price objective on shares of Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.56.

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.