Cache Advisors LLC Trims Holdings in Pure Storage, Inc. $PSTG

Cache Advisors LLC decreased its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 53.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,536 shares of the technology company’s stock after selling 30,300 shares during the period. Cache Advisors LLC’s holdings in Pure Storage were worth $2,224,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PSTG. Versant Capital Management Inc raised its position in shares of Pure Storage by 8.3% during the 3rd quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock valued at $134,000 after purchasing an additional 122 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Pure Storage by 40.1% in the 3rd 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. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Pure Storage by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock worth $3,667,000 after buying an additional 152 shares in the last quarter. State of Wyoming raised its holdings in Pure Storage by 10.3% during the third quarter. State of Wyoming now owns 1,673 shares of the technology company’s stock valued at $140,000 after acquiring an additional 156 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of Pure Storage by 11.8% in the third quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock valued at $128,000 after acquiring an additional 162 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Key Headlines 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 Stock Down 2.8%

Pure Storage stock opened at $64.14 on Friday. Pure Storage, Inc. has a 52-week low of $34.51 and a 52-week high of $100.59. The firm’s fifty day moving average is $70.35 and its 200 day moving average is $77.61. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 116.61, a PEG ratio of 5.63 and a beta of 1.27.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Pure Storage had a return on equity of 14.69% and a net margin of 5.14%.The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. On average, equities research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total value of $7,131,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ajay Singh sold 7,178 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Susquehanna set a $105.00 price target on Pure Storage in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a report on Thursday, January 22nd. Morgan Stanley set a $83.00 target price on shares of Pure Storage in a research report on Wednesday, December 3rd. Citigroup reduced their price target on shares of Pure Storage from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Finally, UBS Group boosted their price target on shares of Pure Storage from $60.00 to $63.00 and gave the stock a “sell” rating in a research note on Thursday. Twelve 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’s stock. Based on data from MarketBeat.com, the stock 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.