Pure Storage, Inc. $PSTG Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC cut its stake in Pure Storage, Inc. (NYSE:PSTG) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,666,892 shares of the technology company’s stock after selling 259,944 shares during the period. Pure Storage comprises approximately 1.0% of William Blair Investment Management LLC’s portfolio, making the stock its 15th largest position. William Blair Investment Management LLC’s holdings in Pure Storage were worth $391,132,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PSTG. Winnow Wealth LLC acquired a new stake in shares of Pure Storage during the third quarter worth about $26,000. Assetmark Inc. boosted its position in shares of 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 purchasing an additional 222 shares during the period. True Wealth Design LLC grew its stake in Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after buying an additional 439 shares during the last quarter. SouthState Corp increased its position in 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 buying an additional 489 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Pure Storage by 40.1% during the third quarter. Smartleaf Asset Management LLC now owns 468 shares of the technology company’s stock worth $39,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

Shares of Pure Storage stock opened at $64.14 on Friday. The company has a market cap of $21.18 billion, a P/E ratio of 116.61, a PEG ratio of 5.63 and a beta of 1.27. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $100.59. The firm has a fifty day moving average of $70.35 and a two-hundred day moving average of $77.61.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Pure Storage had a net margin of 5.14% and a return on equity of 14.69%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Pure Storage News Roundup

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 Buying and Selling

In other news, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares of the company’s stock, valued at $14,441,209.74. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The SEC filing for this sale provides additional information. 5.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Pure Storage in a report on Wednesday, December 3rd. Piper Sandler reiterated a “buy” rating on shares of Pure Storage in a research report on Thursday. TD Cowen reiterated a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Oppenheimer initiated coverage on shares of Pure Storage in a research report on Monday, November 17th. They set an “outperform” rating and a $120.00 price objective on the stock. Finally, Barclays upped their target price on shares of Pure Storage from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Thursday. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.32.

About Pure Storage

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.