Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in Pure Storage, Inc. $PSTG

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pure Storage, Inc. (NYSE:PSTG) in the 2nd quarter, HoldingsChannel reports. The fund purchased 6,349 shares of the technology company’s stock, valued at approximately $366,000.

Several other hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted its position in shares of Pure Storage by 4.2% in the 1st 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 in the last quarter. GraniteShares Advisors LLC lifted its position in shares of Pure Storage by 2.6% in the 2nd quarter. GraniteShares Advisors LLC now owns 8,001 shares of the technology company’s stock valued at $461,000 after acquiring an additional 206 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Pure Storage by 35.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after buying an additional 239 shares during the period. Mutual Advisors LLC increased its stake in Pure Storage by 5.1% in the 1st quarter. Mutual Advisors LLC now owns 5,173 shares of the technology company’s stock valued at $236,000 after buying an additional 252 shares during the period. Finally, MBM Wealth Consultants LLC increased its stake in Pure Storage by 2.3% in the 1st quarter. MBM Wealth Consultants LLC now owns 11,372 shares of the technology company’s stock valued at $503,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Down 4.5%

Shares of PSTG opened at $89.43 on Friday. The company’s fifty day moving average is $74.81 and its 200-day moving average is $59.41. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $94.72. The firm has a market cap of $29.39 billion, a price-to-earnings ratio of 218.12, a price-to-earnings-growth ratio of 8.70 and a beta of 1.22.

Pure Storage (NYSE:PSTG) last announced its quarterly 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. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The company had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. During the same quarter in the prior year, the business posted $0.44 EPS. Pure Storage’s quarterly revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PSTG shares. Northland Securities upped their price objective on shares of Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a research note on Thursday, August 28th. Guggenheim upped their price objective on shares of Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Lake Street Capital upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Wells Fargo & Company upped 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Fourteen 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.06.

Insider Buying and Selling at Pure Storage

In related news, insider Ajay Singh sold 7,014 shares of the company’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total transaction of $602,151.90. Following the completion of the sale, the insider directly owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Dan Fitzsimons sold 6,051 shares of the company’s 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 sale, the executive directly owned 62,759 shares of the company’s stock, valued at approximately $5,486,391.78. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 643,111 shares of company stock worth $42,454,009. Company insiders own 5.60% of the company’s stock.

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.