Fifth Third Bancorp Has $256,000 Stock Position in Pure Storage, Inc. $PSTG

Fifth Third Bancorp trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 16.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,446 shares of the technology company’s stock after selling 893 shares during the quarter. Fifth Third Bancorp’s holdings in Pure Storage were worth $256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSTG. MassMutual Private Wealth & Trust FSB increased its position in Pure Storage by 55.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company’s stock worth $29,000 after purchasing an additional 233 shares during the period. FNY Investment Advisers LLC increased its position in Pure Storage by 5,233.3% in the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock worth $35,000 after purchasing an additional 785 shares during the period. TruNorth Capital Management LLC acquired a new stake in Pure Storage in the first quarter worth about $38,000. Nisa Investment Advisors LLC increased its position in Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock worth $40,000 after purchasing an additional 239 shares during the period. Finally, Banque Transatlantique SA acquired a new stake in Pure Storage in the first quarter worth about $43,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pure Storage

In other news, Director Roxanne Taylor sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the sale, the director owned 16,343 shares in the company, valued at $1,257,266.99. This represents a 15.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $87.33, for a total value of $8,733,000.00. Following the sale, the insider owned 300,000 shares in the company, valued at approximately $26,199,000. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 640,979 shares of company stock worth $42,072,979. Insiders own 5.60% of the company’s stock.

Pure Storage Stock Performance

NYSE PSTG opened at $83.75 on Wednesday. The stock has a market capitalization of $27.52 billion, a price-to-earnings ratio of 204.27, a PEG ratio of 7.70 and a beta of 1.20. The stock’s 50 day moving average price is $69.78 and its two-hundred day moving average price is $57.35. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $89.10.

Pure Storage (NYSE:PSTG) last released its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

PSTG has been the subject of several analyst reports. Lake Street Capital boosted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. UBS Group boosted their target price on Pure Storage from $50.00 to $55.00 and gave the stock a “sell” rating in a research report on Thursday, August 28th. Wedbush boosted their target price on Pure Storage from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Needham & Company LLC boosted their target price on Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Cowen restated a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.06.

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.