State of Alaska Department of Revenue Sells 1,385 Shares of Pure Storage, Inc. $PSTG

State of Alaska Department of Revenue trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,910 shares of the technology company’s stock after selling 1,385 shares during the quarter. State of Alaska Department of Revenue’s holdings in Pure Storage were worth $2,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. American National Bank & Trust bought a new stake in shares of Pure Storage during the second quarter worth $45,000. Bank Pictet & Cie Europe AG lifted its position in shares of Pure Storage by 27.7% during the second quarter. Bank Pictet & Cie Europe AG now owns 41,969 shares of the technology company’s stock worth $2,417,000 after purchasing an additional 9,099 shares during the last quarter. Banque Pictet & Cie SA lifted its position in shares of Pure Storage by 33.7% during the second quarter. Banque Pictet & Cie SA now owns 228,534 shares of the technology company’s stock worth $13,159,000 after purchasing an additional 57,644 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Pure Storage by 2.0% during the second quarter. Public Employees Retirement System of Ohio now owns 96,919 shares of the technology company’s stock worth $5,581,000 after purchasing an additional 1,934 shares during the last quarter. Finally, Norden Group LLC lifted its position in shares of Pure Storage by 14.9% during the second quarter. Norden Group LLC now owns 18,887 shares of the technology company’s stock worth $1,088,000 after purchasing an additional 2,448 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John Francis Murphy sold 6,959 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $56.17, for a total transaction of $390,887.03. Following the sale, the director owned 19,706 shares in the company, valued at approximately $1,106,886.02. The trade was a 26.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mona Chu sold 17,500 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer owned 138,899 shares in the company, valued at $10,627,162.49. The trade was a 11.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,070 shares of company stock valued at $42,844,896 in the last three months. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Needham & Company LLC lifted 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. Guggenheim lifted their price objective on Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a report on Friday, September 26th. JPMorgan Chase & Co. lifted their price objective on Pure Storage from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Barclays lifted their price objective on Pure Storage from $57.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, August 29th. Finally, Raymond James Financial lifted their price objective on Pure Storage from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.06.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $88.31 on Friday. The company has a market capitalization of $29.02 billion, a PE ratio of 215.41, a P/E/G ratio of 7.96 and a beta of 1.22. The company has a 50-day simple moving average of $70.98 and a two-hundred day simple moving average of $57.81. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $89.10.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business 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 revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

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.