Louisiana State Employees Retirement System Has $5.03 Million Stock Position in Pure Storage, Inc. $PSTG

Louisiana State Employees Retirement System increased its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,400 shares of the technology company’s stock after buying an additional 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Pure Storage were worth $5,032,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in Pure Storage during the 2nd quarter worth about $25,000. American National Bank & Trust bought a new stake in Pure Storage during the 2nd quarter worth about $45,000. FNY Investment Advisers LLC raised its holdings in Pure Storage by 5,233.3% during the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock worth $35,000 after purchasing an additional 785 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in Pure Storage during the 1st quarter worth about $38,000. Finally, Nisa Investment Advisors LLC raised its holdings in Pure Storage by 35.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock worth $40,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG stock opened at $93.15 on Thursday. The stock has a market cap of $30.61 billion, a PE ratio of 227.20, a price-to-earnings-growth ratio of 8.17 and a beta of 1.22. The stock has a 50-day moving average of $73.43 and a 200-day moving average of $58.88. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $93.99.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.Pure Storage’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 6,051 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $5,486,391.78. The trade was a 8.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total value of $1,338,925.00. Following the completion of the transaction, the chief accounting officer owned 138,899 shares of the company’s stock, valued at $10,627,162.49. This represents a 11.19% 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 three months. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSTG has been the subject of several recent research reports. Lake Street Capital boosted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. boosted their price objective on Pure Storage from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Evercore ISI boosted their price objective on Pure Storage from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Morgan Stanley boosted their price objective on Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. Finally, Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.06.

About Pure Storage

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.