Pure Storage (PSTG)

• Market cap: $21.6B
• 1 day: 1.35%
• 5 days: 5.49%
• 1 month: 0.82%
• 3 months: 17.37%
• 6 months: 9.35%
• Year to date: 6.10%
• 1 year: 79.33%
• 5 years: 258.38%
• 10 years: 314.12%
• Sector: Information Technology
• Industry: Computer Storage Devices

About: Pure Storage Inc is a U.S.-based company that provides an enterprise data storage platform that transforms business through a dramatic increase in performance and reduction in complexity and costs. It generates revenue from two sources: product revenue which includes the sale of integrated storage hardware and embedded operating system software and; subscription services revenue which includes Evergreen Storage subscriptions, a unified subscription which includes Pure as-a-Service, and Cloud Block Store, and Portworx. Subscription services revenue also includes professional services offerings such as installation and implementation consulting services.

Employees: 5,600

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

83% more call options, than puts

Call options by funds: $189M | Put options by funds: $103M

4% less repeat investments, than reductions

Existing positions increased: 224 | Existing positions reduced: 233

4.46% less ownership

Funds ownership: 86.3% [Q2] → 81.84% (-4.46%) [Q3]

6% less funds holding

Funds holding: 642 [Q2] → 604 (-38) [Q3]

22% less funds holding in top 10

Funds holding in top 10: 9 [Q2] → 7 (-2) [Q3]

25% less capital invested

Capital invested by funds: $18B [Q2] → $13.5B (-$4.52B) [Q3]

27% less first-time investments, than exits

New positions opened: 75 | Existing positions closed: 103

Research analyst outlook

12 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $47 29% downside
• Avg. target: $69 4% upside
• High target: $76 15% upside

12 analyst ratings

• positive: 7 58%
• neutral: 4 33%
• negative: 1 8%

Morgan Stanley Meta Marshall 80% 1-year accuracy 20 / 25 met price target	9% upside $72	Equal-Weight Maintained	17 Dec 2024
Citigroup Asiya Merchant 44% 1-year accuracy 12 / 27 met price target	13% upside $75	Buy Maintained	4 Dec 2024
UBS David Vogt 31% 1-year accuracy 4 / 13 met price target	29% downside $47	Sell Maintained	4 Dec 2024
Evercore ISI Group Amit Daryanani 63% 1-year accuracy 31 / 49 met price target	13% upside $75	Outperform Maintained	4 Dec 2024
Stifel Matthew Sheerin 58% 1-year accuracy 15 / 26 met price target	2% downside $65	Hold Maintained	4 Dec 2024