John Colgrove Sells 100,000 Shares of Pure Storage (NYSE:PSTG) Stock

Pure Storage, Inc. (NYSE:PSTG) insider John Colgrove sold 100,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 200,000 shares of the company’s stock, valued at approximately $18,498,000. This trade represents a 33.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

John Colgrove also recently made the following trade(s):

• On Thursday, September 18th, John Colgrove sold 100,000 shares of Pure Storage stock. The stock was sold at an average price of $87.33, for a total transaction of $8,733,000.00.
• On Wednesday, August 27th, John Colgrove sold 95,300 shares of Pure Storage stock. The shares were sold at an average price of $60.08, for a total value of $5,725,624.00.
• On Thursday, July 31st, John Colgrove sold 198,749 shares of Pure Storage stock. The stock was sold at an average price of $60.32, for a total value of $11,988,539.68.
• On Wednesday, July 30th, John Colgrove sold 187,740 shares of Pure Storage stock. The shares were sold at an average price of $60.02, for a total value of $11,268,154.80.
• On Tuesday, July 29th, John Colgrove sold 13,511 shares of Pure Storage stock. The stock was sold at an average price of $60.09, for a total value of $811,875.99.

Pure Storage Stock Down 0.1%

Shares of Pure Storage stock opened at $91.86 on Friday. The company has a 50 day moving average price of $78.32 and a 200 day moving average price of $60.97. The firm has a market capitalization of $30.19 billion, a P/E ratio of 224.05, a PEG ratio of 8.54 and a beta of 1.22. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $95.14.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $861.00 million for the quarter, compared to analyst estimates 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 business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Northland Securities boosted their target price on shares of Pure Storage from $63.00 to $71.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Bank of America increased their price target on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Guggenheim boosted 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. Finally, Needham & Company LLC raised their target price on Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.06.

Institutional Investors Weigh In On Pure Storage

A number of institutional investors have recently modified their holdings of PSTG. Vanguard Group Inc. raised its holdings in Pure Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock worth $1,915,572,000 after purchasing an additional 308,738 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Pure Storage by 25.9% during 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 buying an additional 1,868,782 shares during the period. Geode Capital Management LLC raised its stake in shares of Pure Storage by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock worth $417,830,000 after buying an additional 123,320 shares during the period. William Blair Investment Management LLC lifted its position in shares of Pure Storage by 112.9% during the 2nd quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock valued at $283,687,000 after buying an additional 2,612,300 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pure Storage in the 2nd quarter valued at $225,203,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

About Pure Storage

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.