Intech Investment Management LLC Has $3.48 Million Holdings in Pure Storage, Inc. $PSTG

Intech Investment Management LLC cut its stake in Pure Storage, Inc. (NYSE:PSTG) by 32.0% in the third quarter, HoldingsChannel reports. The fund owned 41,505 shares of the technology company’s stock after selling 19,534 shares during the period. Intech Investment Management LLC’s holdings in Pure Storage were worth $3,479,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Winnow Wealth LLC acquired a new stake in shares of Pure Storage in the third quarter valued at approximately $26,000. Assetmark Inc. boosted its position in Pure Storage by 186.6% in the 3rd quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Pure Storage by 402.8% in the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock valued at $32,000 after buying an additional 439 shares during the period. SouthState Corp raised its position in shares of Pure Storage by 474.8% during the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after acquiring an additional 489 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Pure Storage by 40.1% during the third quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock valued at $39,000 after acquiring an additional 134 shares during the period. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $64.14 on Monday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59. The stock has a market cap of $21.18 billion, a P/E ratio of 116.61, a P/E/G ratio of 4.50 and a beta of 1.29. The firm has a 50 day moving average price of $70.35 and a 200 day moving average price of $77.74.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Pure Storage had a net margin of 5.14% and a return on equity of 14.36%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on PSTG shares. Wells Fargo & Company lowered their price objective on Pure Storage from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays boosted their price target on shares of Pure Storage from $77.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Thursday. Lake Street Capital raised their price objective on shares of Pure Storage from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of Pure Storage in a research report on Monday, February 23rd. Finally, Morgan Stanley set a $83.00 price target on Pure Storage in a research note on Wednesday, December 3rd. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and an average target price of $94.32.

More Pure Storage News

Here are the key news stories impacting Pure Storage this week:

• Positive Sentiment: Q4 results and guidance beat expectations — Pure Storage reported its first $1.06B quarter, non-GAAP EPS of $0.69 (beats) and raised FY27 revenue/profit outlook driven by hyperscaler demand. This underpins near-term growth expectations. Read More.
• Positive Sentiment: Rebrand and strategic M&A — The company rebranded as Everpure and signed a deal to acquire data?intelligence firm 1touch, signaling a move from hardware-centric storage toward data management/AI capabilities that could expand TAM and gross-margin mix over time. Read More.
• Positive Sentiment: Bullish analyst/takeaway coverage — Several bullish pieces argue Everpure is capitalizing on hyperscaler AI demand, price increases and NAND procurement shifts that should protect margins and support FY27 growth (supporting a “buy” thesis). Read More.
• Neutral Sentiment: Investor presentations and management commentary — Transcripts from Susquehanna and Bernstein conferences and the Q4 earnings call provide detail on product positioning, hyperscaler traction and go?to?market; useful for modeling but not immediate catalysts. Read More. Read More.
• Negative Sentiment: Analyst/valuation concerns — Some commentary flags supply strains, pricing pressure in segments, and a high valuation (elevated P/E), which can make the stock sensitive to any execution slips. Zacks notes these risks despite the beat. Read More.
• Negative Sentiment: Mixed analyst ratings — Barclays raised its target to $81 (equal weight) while UBS raised its target to $63 but kept a sell rating; the split shows disagreement on whether rebrand/growth justify the current multiple, contributing to intraday selling. Read More. Read More.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the transaction, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.