Total Clarity Wealth Management Inc. Acquires New Position in Pure Storage, Inc. $PSTG

Key Points

• Total Clarity Wealth Management Inc. acquired 11,581 shares of Pure Storage, Inc. valued at approximately $667,000, indicating growing institutional interest in the company.
• Analysts have raised price targets for Pure Storage, with Raymond James setting a new target of $88 and Needham & Company increasing theirs to $100, reflecting positive market sentiment.
• Pure Storage reported Q2 earnings of $0.43 per share, exceeding expectations, and recorded a revenue of $861 million, showcasing a year-over-year growth of 12.7%.

Total Clarity Wealth Management Inc. bought a new position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,581 shares of the technology company's stock, valued at approximately $667,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in Pure Storage during the second quarter worth about $25,000. FNY Investment Advisers LLC raised its position in 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 acquiring an additional 785 shares during the last quarter. REAP Financial Group LLC raised its position in 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 acquiring an additional 201 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in Pure Storage during the first quarter worth about $38,000. Finally, Nisa Investment Advisors LLC raised its position in 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 acquiring an additional 239 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Analysts Set New Price Targets

PSTG has been the subject of a number of recent research reports. Raymond James Financial lifted their price target on shares of Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Needham & Company LLC lifted their price target on shares of Pure Storage from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Evercore ISI lifted their price target on shares of Pure Storage from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Guggenheim lifted their price target on shares of Pure Storage from $93.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Finally, Wedbush lifted their price target on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.06.

Pure Storage Trading Down 4.5%

NYSE PSTG opened at $89.43 on Monday. The company's fifty day simple moving average is $74.81 and its 200-day simple moving average is $59.55. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $94.72. The stock has a market cap of $29.39 billion, a P/E ratio of 218.12, a PEG ratio of 8.30 and a beta of 1.22.

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

Insider Transactions at Pure Storage

In related news, Director Roxanne Taylor sold 3,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the sale, the director directly owned 16,343 shares of the company's stock, valued at $1,257,266.99. This represents a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Dan Fitzsimons sold 6,051 shares of the company's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $87.42, for a total transaction of $528,978.42. Following the transaction, the executive owned 62,759 shares of the company's stock, valued at $5,486,391.78. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 643,111 shares of company stock valued at $42,454,009 over the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

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.

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