Pure Storage, Inc. $PSTG Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in Pure Storage, Inc. (NYSE:PSTG) by 19.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,604 shares of the technology company’s stock after selling 10,341 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pure Storage were worth $2,511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank Pictet & Cie Europe AG lifted its holdings in shares of Pure Storage by 23.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company’s stock worth $565,000 after purchasing an additional 1,740 shares during the period. Formidable Asset Management LLC purchased a new stake in Pure Storage in the 4th quarter valued at $201,000. Toronto Dominion Bank lifted its stake in shares of Pure Storage by 1.1% in the 4th quarter. Toronto Dominion Bank now owns 40,705 shares of the technology company’s stock valued at $2,500,000 after purchasing an additional 429 shares during the last quarter. Forum Financial Management LP lifted its stake in Pure Storage by 8.5% during the 4th quarter. Forum Financial Management LP now owns 4,523 shares of the technology company’s stock worth $278,000 after acquiring an additional 353 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Pure Storage by 135.5% in the 4th quarter. Mackenzie Financial Corp now owns 131,027 shares of the technology company’s stock valued at $8,049,000 after purchasing an additional 75,378 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Northland Securities lifted their price objective on Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. Cowen restated a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Piper Sandler increased their price target on Pure Storage from $66.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Guggenheim reissued a “buy” rating and set a $93.00 price objective on shares of Pure Storage in a research note on Thursday, August 28th. Finally, Wedbush lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.39.

Pure Storage Stock Up 0.8%

PSTG stock opened at $87.72 on Monday. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $88.01. The company has a market cap of $28.83 billion, a PE ratio of 213.96, a price-to-earnings-growth ratio of 8.16 and a beta of 1.20. The business’s 50-day simple moving average is $65.75 and its 200 day simple moving average is $55.65.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data 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 company had revenue of $861.00 million for the quarter, compared to the consensus estimate of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insider Activity

In other news, CAO Mona Chu sold 17,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total value of $1,338,925.00. Following the transaction, the chief accounting officer owned 138,899 shares of the company’s stock, valued at $10,627,162.49. This represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Francis Murphy sold 6,959 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $56.17, for a total value of $390,887.03. Following the completion of the transaction, the director directly owned 19,706 shares in the company, valued at approximately $1,106,886.02. This trade represents a 26.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 545,360 shares of company stock worth $33,008,022. 5.60% of the stock is owned by company insiders.

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.