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Northwestern Mutual Wealth Management Co. grew its position in Pure Storage, Inc. (NYSE:PSTG – Free Report) by 10.1% in the first quarter, HoldingsChannel.com reports. The fund owned 30,063 shares of the technology company’s stock after buying an additional 2,761 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Pure Storage were worth $1,331,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PSTG. LPL Financial LLC increased its holdings in shares of 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 purchasing an additional 21,812 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of 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 purchasing an additional 32,611 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of 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 purchasing an additional 500 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Pure Storage by 11.3% in the first quarter. Fifth Third Bancorp now owns 5,339 shares of the technology company’s stock valued at $236,000 after purchasing an additional 542 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Pure Storage by 8.4% in the first quarter. Oppenheimer & Co. Inc. now owns 7,327 shares of the technology company’s stock valued at $324,000 after purchasing an additional 570 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.
Insider Activity
In other news, insider John Colgrove sold 198,749 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total value of $11,988,539.68. Following the completion of the transaction, the insider owned 500,000 shares of the company’s stock, valued at $30,160,000. The trade was a 28.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajay Singh sold 22,601 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the transaction, the insider directly owned 261,465 shares of the company’s stock, valued at $14,498,234.25. This trade represents a 7.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 542,094 shares of company stock worth $32,367,537 over the last quarter. Corporate insiders own 5.60% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Raymond James Financial raised their price target on shares of Pure Storage from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler raised their price target on shares of Pure Storage from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday. Needham & Company LLC raised their price target on shares of Pure Storage from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Guggenheim reissued a “buy” rating and issued a $93.00 price target on shares of Pure Storage in a report on Thursday. Finally, Wedbush raised their price target on shares of Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.
Read Our Latest Stock Report on Pure Storage
Pure Storage Stock Performance
PSTG opened at $77.48 on Friday. The company has a fifty day moving average price of $57.99 and a two-hundred day moving average price of $53.44. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $80.68. The firm has a market capitalization of $25.32 billion, a PE ratio of 188.99, a P/E/G ratio of 8.21 and a beta of 1.07.
Pure Storage (NYSE:PSTG – Get Free Report) last released 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. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The firm had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. During the same quarter in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current 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.
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