Harel Insurance Investments & Financial Services Ltd. Sells 18,715 Shares of Pure Storage, Inc. (NYSE:PSTG)

Harel Insurance Investments & Financial Services Ltd. trimmed its holdings in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 13.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,328 shares of the technology company's stock after selling 18,715 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Pure Storage were worth $5,371,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PSTG. McIlrath & Eck LLC bought a new stake in shares of Pure Storage in the fourth quarter valued at $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after acquiring an additional 233 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in Pure Storage in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC lifted its holdings 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 valued at $35,000 after purchasing an additional 785 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Pure Storage by 157.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 713 shares of the technology company's stock worth $44,000 after purchasing an additional 436 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen raised Pure Storage from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Morgan Stanley raised their target price on Pure Storage from $40.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Barclays reduced their target price on Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a report on Thursday, May 29th. Citigroup increased their price target on shares of Pure Storage from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Piper Sandler restated an "overweight" rating and issued a $66.00 price objective (up from $53.00) on shares of Pure Storage in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $69.95.

Pure Storage Stock Performance

PSTG stock opened at $56.80 on Friday. The firm has a market cap of $18.56 billion, a P/E ratio of 153.50, a P/E/G ratio of 5.31 and a beta of 1.06. The firm's fifty day moving average is $53.04 and its 200 day moving average is $55.64. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $73.67.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%. The firm had revenue of $778.49 million for the quarter, compared to analysts' expectations of $770.03 million. During the same period last year, the firm earned $0.32 earnings per share. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, Director John Francis Murphy sold 11,234 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total value of $619,330.42. Following the sale, the director directly owned 21,930 shares of the company's stock, valued at $1,209,000.90. The trade was a 33.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 6,000 shares of Pure Storage stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $51.65, for a total value of $309,900.00. Following the transaction, the executive owned 75,965 shares of the company's stock, valued at $3,923,592.25. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,083 shares of company stock worth $6,460,576 over the last three months. Company insiders own 5.60% of the company's stock.

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.

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