Y Intercept Hong Kong Ltd Sells 117,108 Shares of Pure Storage, Inc. $PSTG

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 91.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,579 shares of the technology company’s stock after selling 117,108 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Pure Storage were worth $609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. LPL Financial LLC increased its stake in Pure Storage by 22.6% in the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock valued at $5,240,000 after purchasing an additional 21,812 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock valued at $12,209,000 after purchasing an additional 32,611 shares in the last quarter. Crumly & Associates Inc. bought a new stake in Pure Storage in the second quarter valued at approximately $242,000. Michael S. Ryan Inc. bought a new stake in Pure Storage in the second quarter valued at approximately $254,000. Finally, D.A. Davidson & CO. increased its stake in Pure Storage by 7.7% in the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company’s stock valued at $310,000 after purchasing an additional 500 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Pure Storage Trading Up 1.9%

Shares of PSTG opened at $96.94 on Thursday. Pure Storage, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The firm has a fifty day simple moving average of $87.83 and a 200 day simple moving average of $66.11. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of 236.44, a PEG ratio of 8.99 and a beta of 1.24.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The business had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $845.78 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Pure Storage

In related news, insider John Colgrove sold 100,000 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $92.49, for a total transaction of $9,249,000.00. Following the completion of the transaction, the insider owned 200,000 shares in the company, valued at approximately $18,498,000. This represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total transaction of $528,978.42. Following the transaction, the executive owned 62,759 shares of the company’s stock, valued at $5,486,391.78. The trade was a 8.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 343,111 shares of company stock valued at $27,634,439 in the last three months. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PSTG has been the subject of several research analyst reports. Barclays upped their price target on shares of Pure Storage from $57.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, August 29th. Guggenheim increased their price objective on shares of Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Lake Street Capital increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Finally, Needham & Company LLC increased their price objective on shares of Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.56.

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.