Citigroup Inc. Raises Position in Pure Storage, Inc. $PSTG

Citigroup Inc. boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 43.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,965 shares of the technology company’s stock after purchasing an additional 60,859 shares during the period. Citigroup Inc.’s holdings in Pure Storage were worth $16,843,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on PSTG shares. Wells Fargo & Company decreased their target price on shares of Pure Storage from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Tigress Financial set a $105.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. TD Cowen reissued a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Finally, Susquehanna set a $105.00 price target on Pure Storage in a research report on Wednesday, December 3rd. Twelve investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.32.

Pure Storage Price Performance

Shares of NYSE PSTG opened at $64.14 on Friday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The stock has a market capitalization of $21.18 billion, a P/E ratio of 116.61, a P/E/G ratio of 5.78 and a beta of 1.27. The company’s 50-day moving average is $70.35 and its 200 day moving average is $77.49.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business posted $0.45 earnings per share. Pure Storage’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Activity at Pure Storage

In other news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’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 SEC filing for this sale provides additional information. Insiders own 5.60% of the company’s stock.

Key Stories Impacting Pure Storage

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.

Pure Storage 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.