State of Alaska Department of Revenue Reduces Holdings in Pure Storage, Inc. $PSTG

State of Alaska Department of Revenue decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.8% during the second quarter, Holdings Channel.com reports. The fund owned 34,910 shares of the technology company’s stock after selling 1,385 shares during the period. State of Alaska Department of Revenue’s holdings in Pure Storage were worth $2,010,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LPL Financial LLC boosted its position in Pure Storage by 22.6% in the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company’s stock valued at $5,240,000 after buying an additional 21,812 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Pure Storage by 13.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company’s stock valued at $12,209,000 after buying an additional 32,611 shares during the last quarter. Crumly & Associates Inc. purchased a new stake in Pure Storage in the second quarter valued at approximately $242,000. Michael S. Ryan Inc. purchased a new stake in Pure Storage in the second quarter valued at approximately $254,000. Finally, D.A. Davidson & CO. boosted its position in Pure Storage by 7.7% in the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company’s stock valued at $310,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,051 shares of the stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total value of $528,978.42. Following the completion of the transaction, the executive directly owned 62,759 shares of the company’s stock, valued at approximately $5,486,391.78. This represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajay Singh sold 7,014 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the transaction, the insider directly owned 229,307 shares of the company’s stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 650,070 shares of company stock worth $42,844,896 in the last quarter. 5.60% of the stock is owned by insiders.

Pure Storage Price Performance

Shares of NYSE:PSTG opened at $88.31 on Friday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $89.10. The firm has a market capitalization of $29.02 billion, a price-to-earnings ratio of 215.41, a price-to-earnings-growth ratio of 7.96 and a beta of 1.22. The business’s 50 day moving average price is $70.98 and its 200-day moving average price is $57.81.

Pure Storage (NYSE:PSTG) last announced its earnings results 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. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. During the same quarter last year, the firm posted $0.44 EPS. The business’s revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, sell-side analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

PSTG has been the topic of a number of recent research reports. Needham & Company LLC upped their target price on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Bank of America upped their target price on Pure Storage from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Raymond James Financial upped their target price on Pure Storage from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Cowen restated a “buy” rating on shares of Pure Storage in a research report on Thursday, August 28th. Finally, Barclays upped their price objective on Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, August 29th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.06.

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.