Pure Storage, Inc. $PSTG Holdings Reduced by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. lowered its position in Pure Storage, Inc. (NYSE:PSTG) by 38.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,354 shares of the technology company’s stock after selling 52,660 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Pure Storage were worth $7,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in Pure Storage in the 1st quarter valued at approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Pure Storage by 129.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock valued at $387,000 after purchasing an additional 4,926 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Pure Storage by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock valued at $50,377,000 after purchasing an additional 595,307 shares in the last quarter. Empowered Funds LLC lifted its holdings in Pure Storage by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after purchasing an additional 194 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new position in Pure Storage during the 2nd quarter valued at about $557,000. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

NYSE PSTG opened at $73.13 on Friday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $100.59. The business’s fifty day moving average is $74.94 and its two-hundred day moving average is $74.66. The stock has a market capitalization of $24.15 billion, a P/E ratio of 192.45, a P/E/G ratio of 8.09 and a beta of 1.26.

Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, September 9th. The technology company reported $0.44 earnings per share (EPS) for the quarter. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%.The business had revenue of $763.77 million for the quarter. On average, research analysts forecast that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 207,178 shares of company stock worth $16,771,931 in the last quarter. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PSTG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pure Storage in a research note on Wednesday, October 8th. Wedbush boosted their target price on Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. UBS Group increased their price target on Pure Storage from $55.00 to $60.00 and gave the company a “sell” rating in a research note on Wednesday, December 3rd. Morgan Stanley set a $83.00 price target on Pure Storage in a research report on Wednesday, December 3rd. Finally, TD Cowen upped their price objective on Pure Storage from $85.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, December 3rd. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned 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 $95.26.

Pure Storage Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.