Clear Creek Financial Management LLC Invests $428,000 in Pure Storage, Inc. $PSTG

Clear Creek Financial Management LLC bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG) during the second quarter, Holdings Channel reports. The fund bought 7,437 shares of the technology company’s stock, valued at approximately $428,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PSTG. Mechanics Financial Corp acquired a new stake in shares of Pure Storage during the second quarter worth $25,000. FNY Investment Advisers LLC raised its position in shares of Pure Storage by 5,233.3% during the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company’s stock worth $35,000 after purchasing an additional 785 shares during the period. REAP Financial Group LLC raised its position in shares of Pure Storage by 49.0% during the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock worth $35,000 after purchasing an additional 201 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Pure Storage during the first quarter worth $38,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company’s stock worth $40,000 after purchasing an additional 239 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSTG has been the subject of several research analyst reports. Lake Street Capital increased their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. increased their price objective on Pure Storage from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Morgan Stanley increased their price objective on Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 28th. Wall Street Zen raised Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Finally, Evercore ISI increased their price objective on Pure Storage from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Fourteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.06.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 198,749 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $60.32, for a total transaction of $11,988,539.68. Following the completion of the sale, the insider owned 500,000 shares in the company, valued at approximately $30,160,000. This represents a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mona Chu sold 17,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $76.51, for a total value of $1,338,925.00. Following the sale, the chief accounting officer owned 138,899 shares of the company’s stock, valued at approximately $10,627,162.49. This trade represents a 11.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 643,111 shares of company stock valued at $42,454,009. 5.60% of the stock is currently owned by company insiders.

Pure Storage Price Performance

Shares of PSTG stock opened at $89.43 on Friday. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $94.72. The stock’s 50-day moving average is $74.81 and its two-hundred day moving average is $59.41. The firm has a market cap of $29.39 billion, a P/E ratio of 218.12, a PEG ratio of 8.70 and a beta of 1.22.

Pure Storage (NYSE:PSTG) last issued its earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The company had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. During the same period in the prior year, the firm posted $0.44 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. As a group, research analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Pure Storage 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.