Pure Storage (NYSE:PSTG) Stock Unloaded Rep. Robert Bresnahan, Jr.

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Pure Storage, Inc. (NYSE:PSTG). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Pure Storage stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.

Pure Storage Stock Performance

Pure Storage stock traded up $0.24 during mid-day trading on Friday, reaching $67.78. 1,475,224 shares of the company were exchanged, compared to its average volume of 2,416,183. Pure Storage, Inc. has a twelve month low of $38.78 and a twelve month high of $73.67. The firm’s 50-day simple moving average is $65.67 and its two-hundred day simple moving average is $57.63. The firm has a market cap of $22.11 billion, a PE ratio of 178.38, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09.

Insider Transactions at Pure Storage

In related news, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total value of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares of the company’s stock, valued at $4,207,050.96. The trade was a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the transaction, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,178 shares of company stock valued at $8,871,746. 6.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wells Fargo & Company raised their price target on Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. TD Cowen raised their price objective on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Northland Securities reissued a “market perform” rating and set a $63.00 price target (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Finally, Evercore ISI raised their price target on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after acquiring an additional 368,643 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Pure Storage by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock worth $2,054,448,000 after acquiring an additional 615,931 shares during the last quarter. State Street Corp increased its position in shares of Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock worth $515,596,000 after acquiring an additional 626,427 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Pure Storage by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company’s stock worth $442,736,000 after acquiring an additional 401,035 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Pure Storage by 25.4% during the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company’s stock worth $413,982,000 after acquiring an additional 1,366,458 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.