Pure Storage, Inc. $PSTG Shares Bought by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 241.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,025 shares of the technology company’s stock after buying an additional 725 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Pure Storage were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in Pure Storage during the 2nd quarter valued at about $25,000. FNY Investment Advisers LLC increased its position in Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock valued at $35,000 after buying an additional 785 shares in the last quarter. REAP Financial Group LLC increased its position 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 buying an additional 201 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in Pure Storage during the 1st quarter valued at about $38,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Pure Storage by 35.6% in the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PSTG shares. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Piper Sandler set a $92.00 price objective on Pure Storage and gave the company an “overweight” rating in a report on Thursday, September 25th. Cowen reissued a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Raymond James Financial increased their price objective on Pure Storage from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Finally, Bank of America increased their price objective on Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $81.06.

Insiders Place Their Bets

In other Pure Storage news, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total transaction of $528,978.42. Following the transaction, the executive owned 62,759 shares in the company, valued at approximately $5,486,391.78. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 7,014 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the transaction, the insider owned 229,307 shares in the company, valued at $19,686,005.95. This represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 643,111 shares of company stock worth $42,454,009. Company insiders own 5.60% of the company’s stock.

Pure Storage Stock Up 3.7%

Shares of PSTG opened at $92.71 on Tuesday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $94.72. The company has a market capitalization of $30.47 billion, a price-to-earnings ratio of 226.13, a PEG ratio of 8.30 and a beta of 1.22. The stock’s 50-day moving average price is $75.54 and its 200-day moving average price is $59.87.

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

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.