Mutual of America Capital Management LLC Reduces Stake in Pure Storage, Inc. $PSTG

Mutual of America Capital Management LLC decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 154,555 shares of the technology company’s stock after selling 4,958 shares during the period. Mutual of America Capital Management LLC’s holdings in Pure Storage were worth $8,899,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PSTG. LPL Financial LLC raised its position in Pure Storage by 22.6% in the 1st 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. raised its position in Pure Storage by 13.4% in the 1st 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. Crumly & Associates Inc. acquired a new stake in Pure Storage in the 2nd quarter valued at about $242,000. Michael S. Ryan Inc. acquired a new stake in Pure Storage in the 2nd quarter valued at about $254,000. Finally, D.A. Davidson & CO. raised its position in Pure Storage by 7.7% in the 1st 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. Institutional investors and hedge funds own 83.42% of the company’s stock.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $92.49, for a total value of $9,249,000.00. Following the transaction, the insider directly owned 200,000 shares in the company, valued at approximately $18,498,000. The trade was a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mona Chu sold 9,091 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total value of $771,916.81. Following the completion of the sale, the chief accounting officer owned 107,353 shares in the company, valued at approximately $9,115,343.23. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 743,111 shares of company stock valued at $51,703,009. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of recent analyst reports. UBS Group increased their price objective on Pure Storage from $50.00 to $55.00 and gave the company a “sell” rating in a report on Thursday, August 28th. Bank of America raised their price target on Pure Storage from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Morgan Stanley raised their price target on Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 28th. Northland Securities raised their price target on Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Finally, Barclays raised their price target on Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.06.

Pure Storage Stock Performance

PSTG stock opened at $91.86 on Monday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $95.14. The firm has a market cap of $30.19 billion, a P/E ratio of 224.05, a price-to-earnings-growth ratio of 8.47 and a beta of 1.22. The stock has a 50-day simple moving average of $78.32 and a 200-day simple moving average of $61.22.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.Pure Storage’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities research analysts predict 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.