Rep. Robert Bresnahan, Jr. Sells Off Shares of Pure Storage, Inc. (NYSE:PSTG)

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 Intel (NASDAQ:INTC) 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 ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) 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 NVIDIA (NASDAQ:NVDA) on 1/29/2025.

Pure Storage Stock Performance

Pure Storage stock traded up $0.24 during trading hours on Friday, hitting $67.78. The company had a trading volume of 1,475,224 shares, compared to its average volume of 2,416,183. The firm has a market cap of $22.11 billion, a P/E ratio of 178.38, a P/E/G ratio of 5.26 and a beta of 1.09. Pure Storage, Inc. has a 1 year low of $38.78 and a 1 year high of $73.67. The company has a 50-day moving average price of $65.67 and a two-hundred day moving average price of $57.63.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. World Investment Advisors increased its stake in Pure Storage by 1.6% during the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company’s stock valued at $592,000 after purchasing an additional 150 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in Pure Storage by 2.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company’s stock valued at $355,000 after purchasing an additional 150 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in Pure Storage by 2.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company’s stock valued at $396,000 after purchasing an additional 157 shares in the last quarter. Parallel Advisors LLC increased its stake in Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after purchasing an additional 186 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. increased its stake in Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. William Blair reissued an “outperform” rating on shares of Pure Storage in a research report on Thursday, November 14th. Needham & Company LLC boosted their price objective on shares of Pure Storage from $62.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. UBS Group boosted their price target on shares of Pure Storage from $45.00 to $47.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the sale, the insider now directly owns 262,144 shares in the company, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,178 shares of company stock worth $8,871,746. 6.00% of the stock is owned by corporate insiders.

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.

About Pure Storage

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.