Forum Financial Management LP Invests $264,000 in Pure Storage, Inc. $PSTG

Forum Financial Management LP bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,578 shares of the technology company’s stock, valued at approximately $264,000.

Several other hedge funds also recently made changes to their positions in PSTG. GAMMA Investing LLC increased its holdings in shares of Pure Storage by 59.4% during the first quarter. GAMMA Investing LLC now owns 5,118 shares of the technology company’s stock worth $227,000 after purchasing an additional 1,908 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Pure Storage by 8.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,327 shares of the technology company’s stock worth $324,000 after acquiring an additional 570 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Pure Storage by 4.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 121,895 shares of the technology company’s stock worth $5,396,000 after acquiring an additional 4,687 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Pure Storage during the 1st quarter worth approximately $24,462,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Pure Storage by 3.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company’s stock worth $88,992,000 after acquiring an additional 58,054 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 7,014 shares of the firm’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 transaction, the insider owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 6,051 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were 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 $5,486,391.78. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 743,111 shares of company stock worth $51,703,009 over the last ninety days. Insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of several analyst reports. Piper Sandler set a $92.00 price target on shares of Pure Storage and gave the stock an “overweight” rating in a research report on Thursday, September 25th. UBS Group set a $110.00 price target on shares of Pure Storage in a research report on Tuesday, October 21st. Guggenheim increased their price target on shares of Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. 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 report on Tuesday, October 21st. Finally, Wedbush raised their target price on shares of Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.56.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $93.81 on Monday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $96.08. The firm has a market capitalization of $30.83 billion, a P/E ratio of 228.80, a P/E/G 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 $63.04.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm 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 company’s revenue for the quarter was up 12.7% on a year-over-year basis. 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. On average, analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.