Ramirez Asset Management Inc. Grows Position in Pure Storage, Inc. $PSTG

Ramirez Asset Management Inc. boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 40.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 700 shares of the technology company’s stock after acquiring an additional 200 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Pure Storage were worth $40,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PSTG. NBC Securities Inc. purchased a new position in Pure Storage in the first quarter worth $51,000. Merit Financial Group LLC raised its position in Pure Storage by 17.4% in the first quarter. Merit Financial Group LLC now owns 6,007 shares of the technology company’s stock worth $266,000 after acquiring an additional 891 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Pure Storage by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 2,634 shares of the technology company’s stock valued at $120,000 after purchasing an additional 649 shares during the last quarter. GAMMA Investing LLC grew its holdings in Pure Storage by 59.4% in the first quarter. GAMMA Investing LLC now owns 5,118 shares of the technology company’s stock valued at $227,000 after purchasing an additional 1,908 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Pure Storage by 3,506.5% in the first quarter. SG Americas Securities LLC now owns 75,268 shares of the technology company’s stock valued at $3,332,000 after purchasing an additional 73,181 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a report on Wednesday. Wells Fargo & Company upped their target price on Pure Storage from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Wedbush upped their target price on Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Finally, Citigroup upped their target price on Pure Storage from $70.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.06.

Pure Storage Stock Down 4.5%

PSTG opened at $89.43 on Friday. The firm has a market cap of $29.39 billion, a P/E ratio of 218.12, a PEG ratio of 8.70 and a beta of 1.22. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $94.72. The business’s fifty day simple moving average is $74.81 and its 200 day simple moving average is $59.41.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data 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 business had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last 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, equities analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Pure Storage 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.