Several hedge funds and institutional investors have bought or sold shares of Pure Storage. Banque Cantonale Vaudoise invested about $25,000 and Fidelis Capital Partners LLC invested around $27,000 in the first quarter. Massmutual Trust Co. FSB ADV increased its holdings by 61.2% in the second quarter, owning 424 shares valued at $27,000 after acquiring 161 additional shares. Larson Financial Group LLC raised its stake by 242.9%, now holding 432 shares worth $28,000 after buying 306 more. FSC Wealth Advisors LLC also purchased shares worth around $33,000. Overall, 83.42% of the stock is owned by institutional investors.
Insider Selling at Pure Storage
Insider John Colgrove sold 100,000 shares on July 18 for $5,950,000, leaving him with 900,000 shares valued at $53,550,000. Similarly, CAO Mona Chu sold 25,000 shares on September 25 for $1,258,000, retaining 96,639 shares worth about $4.86 million. In total, insiders sold 564,423 shares worth over $30 million in the last three months, holding 6.00% of the stock.
Analysts’ Opinions on Pure Storage
Analysts have adjusted their price targets for Pure Storage. Needham lowered their target from $80 to $62, while Citigroup reduced theirs from $75 to $67, both maintaining a “buy” rating. Northland Securities set their target at $59 (previously $68), Stifel Nicolaus at $60 (previously $65), and Piper Sandler at $56 (previously $60), classifying it as “neutral.” Of the analysts, one rates it a sell, seven a hold, and thirteen a buy, with an average target price of $66.95.
Check Out Our Latest Report on PSTG
Pure Storage Stock Performance
The stock opened at $53.17, with a market cap of $17.29 billion and a P/E ratio of 189.89. The 52-week low is $31.00, and the high is $70.41. Pure Storage had a net margin of 4.53%, and analysts predict earnings per share will be 0.43 for the year.
Company Overview
Pure Storage, Inc. provides data storage and management technologies and services. Its Purity software offers enterprise-level services including data reduction, protection, and encryption.
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