Pure Storage, Inc. $PSTG Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its stake in Pure Storage, Inc. (NYSE:PSTG) by 67.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,980 shares of the technology company’s stock after selling 35,328 shares during the period. Allianz Asset Management GmbH’s holdings in Pure Storage were worth $978,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PSTG. Mechanics Financial Corp acquired a new position in shares of Pure Storage during the second quarter valued at $25,000. REAP Financial Group LLC increased its holdings in shares of Pure Storage by 49.0% during the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after purchasing an additional 201 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of Pure Storage during the first quarter valued at $38,000. Nisa Investment Advisors LLC increased its holdings in shares of Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Finally, Ramirez Asset Management Inc. increased its holdings in shares of Pure Storage by 40.0% during the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after purchasing an additional 200 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Guggenheim raised their price target on Pure Storage from $93.00 to $105.00 and gave the company a “buy” rating in a report on Friday, September 26th. Barclays boosted their price objective on Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. Cowen reissued a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Bank of America lifted their target price on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Finally, Piper Sandler set a $92.00 target price on Pure Storage and gave the stock an “overweight” rating in a report on Thursday, September 25th. Fourteen equities research 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. Based on data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.56.

Pure Storage Trading Up 0.2%

Shares of PSTG opened at $93.81 on Monday. The business’s 50-day moving average price is $81.62 and its 200 day moving average price is $63.04. The stock 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. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $96.08.

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

Insider Activity

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $92.49, for a total transaction of $9,249,000.00. Following the completion of the sale, the insider directly owned 200,000 shares in the company, valued at approximately $18,498,000. This trade represents a 33.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Roxanne Taylor sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total value of $230,790.00. Following the sale, the director owned 16,343 shares of the company’s stock, valued at $1,257,266.99. The trade was a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 743,111 shares of company stock worth $51,703,009. Corporate insiders own 5.60% of the company’s stock.

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.