Interchange Capital Partners LLC Cuts Holdings in Pure Storage, Inc. $PSTG

Interchange Capital Partners LLC decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 11.5% in the second quarter, HoldingsChannel reports. The firm owned 8,448 shares of the technology company’s stock after selling 1,100 shares during the quarter. Interchange Capital Partners LLC’s holdings in Pure Storage were worth $486,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PSTG. Mechanics Financial Corp purchased a new position in shares of Pure Storage during the second quarter valued at about $25,000. REAP Financial Group LLC grew its position in shares of Pure Storage by 49.0% during the second 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 in the last quarter. TruNorth Capital Management LLC purchased a new position in shares of Pure Storage during the first quarter valued at about $38,000. Nisa Investment Advisors LLC grew its position in shares of Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. Finally, Ramirez Asset Management Inc. grew its position in shares of Pure Storage by 40.0% during the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $93.81 on Monday. The company has a market cap of $30.83 billion, a P/E ratio of 228.80, a PEG ratio of 8.65 and a beta of 1.22. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $96.08. The firm has a 50-day simple moving average of $81.62 and a two-hundred day simple moving average of $63.04.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $861.00 million during 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 firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, equities research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 9,091 shares of the firm’s 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne Taylor sold 3,000 shares of Pure Storage stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total transaction of $230,790.00. Following the sale, the director directly owned 16,343 shares of the company’s stock, valued at $1,257,266.99. This represents a 15.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 743,111 shares of company stock valued at $51,703,009 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PSTG shares. Cowen restated a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Piper Sandler set a $92.00 price target on Pure Storage and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pure Storage in a research report on Saturday. Wall Street Zen upgraded Pure Storage from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Finally, Lake Street Capital lifted their price target on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.56.

Pure Storage 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.