Strengthening Families & Communities LLC Trims Stake in Pure Storage, Inc. $PSTG

Strengthening Families & Communities LLC reduced its position in Pure Storage, Inc. (NYSE:PSTG) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,342 shares of the technology company’s stock after selling 353 shares during the quarter. Pure Storage accounts for approximately 1.3% of Strengthening Families & Communities LLC’s holdings, making the stock its 24th biggest holding. Strengthening Families & Communities LLC’s holdings in Pure Storage were worth $2,380,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its stake in Pure Storage by 25.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock worth $401,793,000 after acquiring an additional 1,868,782 shares in the last quarter. Blair William & Co. IL grew its stake in Pure Storage by 2.8% in the 1st quarter. Blair William & Co. IL now owns 3,541,445 shares of the technology company’s stock worth $156,780,000 after acquiring an additional 96,731 shares in the last quarter. Northern Trust Corp grew its stake in Pure Storage by 0.8% in the 1st quarter. Northern Trust Corp now owns 2,911,591 shares of the technology company’s stock worth $128,896,000 after acquiring an additional 23,531 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Pure Storage by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,537,264 shares of the technology company’s stock worth $112,325,000 after acquiring an additional 47,584 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Pure Storage by 3.0% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,010,210 shares of the technology company’s stock worth $88,992,000 after acquiring an additional 58,054 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Pure Storage Stock Down 4.5%

NYSE:PSTG opened at $89.43 on Friday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $94.72. The firm has a 50 day moving average of $74.81 and a 200 day moving average of $59.41. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 218.12, a PEG ratio of 8.70 and a beta of 1.22.

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

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,014 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the transaction, the insider owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 198,749 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the completion of the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at approximately $30,160,000. This represents a 28.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 643,111 shares of company stock worth $42,454,009. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PSTG. UBS Group upped their target price on shares of Pure Storage from $50.00 to $55.00 and gave the stock a “sell” rating in a research note on Thursday, August 28th. Wall Street Zen upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Bank of America increased their price objective on shares of Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Morgan Stanley increased their price objective on shares of Pure Storage from $60.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, August 28th. Finally, Wedbush increased their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.06.

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.