Krane Funds Advisors LLC Boosts Stake in Pure Storage, Inc. $PSTG

Krane Funds Advisors LLC boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 149.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,673 shares of the technology company’s stock after acquiring an additional 11,199 shares during the quarter. Krane Funds Advisors LLC’s holdings in Pure Storage were worth $1,712,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Pure Storage during the 2nd quarter worth $225,203,000. Atreides Management LP purchased a new stake in Pure Storage during the second quarter worth about $204,552,000. Federated Hermes Inc. boosted its holdings in Pure Storage by 1,560.9% during the second quarter. Federated Hermes Inc. now owns 1,343,658 shares of the technology company’s stock worth $77,368,000 after buying an additional 1,262,758 shares in the last quarter. AQR Capital Management LLC grew its position in Pure Storage by 158.4% during the second quarter. AQR Capital Management LLC now owns 1,938,125 shares of the technology company’s stock worth $110,473,000 after buying an additional 1,188,126 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Pure Storage by 75.0% in the second quarter. JPMorgan Chase & Co. now owns 2,525,955 shares of the technology company’s stock valued at $145,445,000 after buying an additional 1,082,606 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Key Pure Storage News

Here are the key news stories impacting Pure Storage this week:

• Positive Sentiment: Company strategic pivot — Pure Storage formally rebranded to Everpure and positioned the business as an AI‑era data management company; leadership says the move is meant to broaden the addressable market. Read More.
• Positive Sentiment: Acquisition to expand capabilities — Management announced intent to acquire 1touch, a data security platform, to add security and data‑management capabilities that support the AI pivot. Deal rationale could increase ARR and product stickiness if execution is smooth. Read More.
• Positive Sentiment: Analyst support — Wedbush reaffirmed an “outperform” rating and a $100 price target, signaling bullish conviction in the company’s strategy and longer‑term upside. Read More.
• Neutral Sentiment: Earnings/valuation focus — Several previews and analyst notes say fiscal Q4 and ARR trends (FlashBlade momentum, AI demand) will drive near‑term results; valuation remains a watch item into earnings. Read More.
• Neutral Sentiment: Long‑term performance pieces — Articles highlighting long‑term returns (e.g., “If you invested $1,000…”) provide context but are unlikely to move the stock materially in the short term. Read More.
• Negative Sentiment: Immediate market reaction — The rebrand triggered a sharp sell‑off as some investors viewed the name change and repositioning as a source of short‑term uncertainty. Read More.
• Negative Sentiment: Target cut from Citi — Citi trimmed its price target to $90 from $105 (while keeping a Buy), reflecting sector/valuation resets ahead of earnings; any lowered PTs add pressure to sentiment. Read More.
• Negative Sentiment: Macro/headline risk — Broader market headlines (new tariff talk, trade uncertainty) contributed to morning weakness across several names, adding to downward pressure. Read More.

Analyst Ratings Changes

Several brokerages have recently commented on PSTG. Evercore reissued an “outperform” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Oppenheimer initiated coverage on Pure Storage in a research report on Monday, November 17th. They set an “outperform” rating and a $120.00 price objective for the company. Morgan Stanley set a $83.00 target price on Pure Storage in a research note on Wednesday, December 3rd. Susquehanna set a $105.00 price target on Pure Storage in a research report on Wednesday, December 3rd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and an average price target of $94.47.

Insider Buying and Selling at Pure Storage

In related news, insider Ajay Singh sold 7,178 shares of the stock in a transaction 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. The SEC filing for this sale provides additional information. Company insiders own 5.60% of the company’s stock.

Pure Storage Price Performance

Shares of PSTG stock opened at $68.46 on Tuesday. The firm’s 50-day simple moving average is $70.36 and its 200-day simple moving average is $77.48. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $100.59. The firm has a market cap of $22.60 billion, a P/E ratio of 180.16, a PEG ratio of 5.74 and a beta of 1.27.

Pure Storage (NYSE:PSTG) last released its earnings results on Tuesday, December 2nd. The technology company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $964.45 million during the quarter, compared to the consensus estimate of $955.60 million. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. Pure Storage’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. Analysts expect that Pure Storage, Inc. will post 0.44 earnings per share for the current fiscal year.

Pure Storage Company 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.