Citigroup Inc. Grows Position in Pure Storage, Inc. $PSTG

Citigroup Inc. raised its holdings in Pure Storage, Inc. (NYSE:PSTG) by 43.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,965 shares of the technology company’s stock after purchasing an additional 60,859 shares during the period. Citigroup Inc. owned 0.06% of Pure Storage worth $16,843,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PSTG. Vanguard Group Inc. grew its stake in Pure Storage by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 33,891,025 shares of the technology company’s stock valued at $2,840,407,000 after buying an additional 623,019 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Pure Storage by 1.7% in the second quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock worth $417,830,000 after acquiring an additional 123,320 shares during the period. Norges Bank bought a new position in shares of Pure Storage in the second quarter worth $225,203,000. Atreides Management LP purchased a new position in shares of Pure Storage in the second quarter valued at $204,552,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Pure Storage by 75.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,525,955 shares of the technology company’s stock valued at $145,445,000 after purchasing an additional 1,082,606 shares during the period. Institutional investors own 83.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group raised their target price on Pure Storage from $60.00 to $63.00 and gave the stock a “sell” rating in a research note on Thursday. TD Cowen restated a “buy” rating on shares of Pure Storage in a research report on Wednesday, December 3rd. Wall Street Zen raised shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Northland Securities set a $77.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. Finally, Wells Fargo & Company cut their price target on shares of Pure Storage from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday. Twelve equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.32.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $64.14 on Friday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The firm has a market cap of $21.18 billion, a PE ratio of 116.61, a PEG ratio of 5.78 and a beta of 1.27. The company has a 50 day simple moving average of $70.35 and a two-hundred day simple moving average of $77.49.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Pure Storage had a net margin of 5.14% and a return on equity of 14.69%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

More Pure Storage News

Here are the key news stories impacting Pure Storage this week:

• Positive Sentiment: Q4 results and guidance beat expectations — Pure Storage reported its first $1.06B quarter, non-GAAP EPS of $0.69 (beats) and raised FY27 revenue/profit outlook driven by hyperscaler demand. This underpins near-term growth expectations. Read More.
• Positive Sentiment: Rebrand and strategic M&A — The company rebranded as Everpure and signed a deal to acquire data‑intelligence firm 1touch, signaling a move from hardware-centric storage toward data management/AI capabilities that could expand TAM and gross-margin mix over time. Read More.
• Positive Sentiment: Bullish analyst/takeaway coverage — Several bullish pieces argue Everpure is capitalizing on hyperscaler AI demand, price increases and NAND procurement shifts that should protect margins and support FY27 growth (supporting a “buy” thesis). Read More.
• Neutral Sentiment: Investor presentations and management commentary — Transcripts from Susquehanna and Bernstein conferences and the Q4 earnings call provide detail on product positioning, hyperscaler traction and go‑to‑market; useful for modeling but not immediate catalysts. Read More. Read More.
• Negative Sentiment: Analyst/valuation concerns — Some commentary flags supply strains, pricing pressure in segments, and a high valuation (elevated P/E), which can make the stock sensitive to any execution slips. Zacks notes these risks despite the beat. Read More.
• Negative Sentiment: Mixed analyst ratings — Barclays raised its target to $81 (equal weight) while UBS raised its target to $63 but kept a sell rating; the split shows disagreement on whether rebrand/growth justify the current multiple, contributing to intraday selling. Read More. Read More.

Pure Storage Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.