Korea Investment CORP Has $8.86 Million Stock Position in Pure Storage, Inc. $PSTG

Korea Investment CORP trimmed its position in Pure Storage, Inc. (NYSE:PSTG) by 36.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,142 shares of the technology company’s stock after selling 114,440 shares during the quarter. Korea Investment CORP owned about 0.06% of Pure Storage worth $8,860,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in Pure Storage during the first quarter worth $32,410,000. Raiffeisen Bank International AG bought a new position in Pure Storage during the fourth quarter worth $33,925,000. Allspring Global Investments Holdings LLC bought a new position in Pure Storage during the first quarter worth $24,462,000. Baird Financial Group Inc. increased its position in Pure Storage by 9,041.4% during the fourth quarter. Baird Financial Group Inc. now owns 521,516 shares of the technology company’s stock worth $32,037,000 after acquiring an additional 515,811 shares during the period. Finally, Northern Trust Corp increased its position in Pure Storage by 18.2% during the fourth quarter. Northern Trust Corp now owns 2,888,060 shares of the technology company’s stock worth $177,414,000 after acquiring an additional 443,728 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Pure Storage Stock Performance

Shares of PSTG stock opened at $58.2880 on Friday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $73.67. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 157.54, a P/E/G ratio of 5.28 and a beta of 1.07. The firm has a fifty day moving average of $56.48 and a 200-day moving average of $53.61.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The company had revenue of $778.49 million during the quarter, compared to analysts’ expectations of $770.03 million. During the same quarter in the prior year, the company posted $0.32 EPS. The business’s revenue was up 12.3% on a year-over-year basis. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. On average, sell-side analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Activity

In other news, Director John Francis Murphy sold 6,959 shares of the company’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $56.17, for a total value of $390,887.03. Following the sale, the director owned 19,706 shares of the company’s stock, valued at approximately $1,106,886.02. This represents a 26.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 22,601 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the sale, the insider directly owned 261,465 shares in the company, valued at approximately $14,498,234.25. The trade was a 7.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 446,794 shares of company stock worth $26,641,913 in the last quarter. 5.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Pure Storage from $61.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 29th. Wedbush reaffirmed an “outperform” rating and set a $70.00 target price on shares of Pure Storage in a research report on Thursday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 target price on shares of Pure Storage in a research report on Friday, June 20th. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 target price (up previously from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Pure Storage from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, May 29th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.11.

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.