Swedbank AB Raises Stock Position in Pure Storage, Inc. $PSTG

Swedbank AB lifted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 216.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,930 shares of the technology company’s stock after acquiring an additional 90,947 shares during the period. Swedbank AB’s holdings in Pure Storage were worth $7,654,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PSTG. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Pure Storage by 25.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock valued at $401,793,000 after acquiring an additional 1,868,782 shares during the last quarter. Woodline Partners LP bought a new stake in Pure Storage in the first quarter worth about $38,989,000. Nuveen LLC bought a new stake in Pure Storage in the first quarter worth about $32,410,000. Goldman Sachs Group Inc. lifted its stake in Pure Storage by 109.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock worth $50,377,000 after purchasing an additional 595,307 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Pure Storage in the first quarter worth about $24,462,000. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PSTG shares. Lake Street Capital raised their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. lifted their price target 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. Needham & Company LLC lifted their price target on shares of Pure Storage from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Barclays lifted their price target on shares of Pure Storage from $57.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, August 29th. Finally, Piper Sandler lifted their price target on shares of Pure Storage from $66.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus target price of $77.39.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 17,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total value of $1,338,925.00. Following the completion of the transaction, the chief accounting officer owned 138,899 shares in the company, valued at approximately $10,627,162.49. This represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roxanne Taylor sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the completion of the transaction, the director owned 16,343 shares of the company’s stock, valued at approximately $1,257,266.99. This trade represents a 15.51% 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 valued at $33,008,022. Insiders own 5.60% of the company’s stock.

Pure Storage Price Performance

NYSE PSTG opened at $87.72 on Monday. The company has a market capitalization of $28.83 billion, a PE ratio of 213.96, a P/E/G ratio of 8.16 and a beta of 1.20. The company has a fifty day moving average of $65.75 and a 200 day moving average of $55.65. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $88.01.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The company 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Research analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

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.