AlphaQuest LLC Has $1.23 Million Stock Position in Pure Storage, Inc. $PSTG

AlphaQuest LLC boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 1,513.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,349 shares of the technology company’s stock after purchasing an additional 20,026 shares during the period. AlphaQuest LLC’s holdings in Pure Storage were worth $1,229,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mechanics Financial Corp bought a new position in shares of Pure Storage in the second quarter valued at approximately $25,000. REAP Financial Group LLC increased its holdings in Pure Storage by 49.0% during the 2nd 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 in the last quarter. Ramirez Asset Management Inc. raised its position in Pure Storage by 40.0% in the 2nd 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 last quarter. American National Bank & Trust acquired a new position in Pure Storage in the second quarter worth $45,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Pure Storage during the first quarter worth $38,000. 83.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pure Storage news, CAO Mona Chu sold 9,091 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the completion of the sale, the chief accounting officer directly owned 107,353 shares in the company, valued at $9,115,343.23. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roxanne Taylor sold 3,000 shares of Pure Storage stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the transaction, the director owned 16,343 shares in the company, valued at $1,257,266.99. This trade represents a 15.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 743,111 shares of company stock worth $51,703,009 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Price Performance

Shares of PSTG stock opened at $93.81 on Friday. The stock has a market cap of $30.83 billion, a PE ratio of 228.80, a price-to-earnings-growth ratio of 8.65 and a beta of 1.22. The stock has a 50-day moving average of $81.62 and a 200-day moving average of $62.91. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $96.08.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data 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 firm 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%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. 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 year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PSTG. Needham & Company LLC upped their price target 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. Evercore ISI upped their target price on shares of Pure Storage from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Piper Sandler set a $92.00 price target on shares of Pure Storage and gave the company an “overweight” rating in a research note on Thursday, September 25th. Wells Fargo & Company boosted their price objective on shares of Pure Storage from $80.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Finally, UBS Group set a $110.00 price objective on Pure Storage in a research report on Tuesday. Fourteen investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.