Harel Insurance Investments & Financial Services Ltd. Raises Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Harel Insurance Investments & Financial Services Ltd. raised its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 27.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,043 shares of the technology company's stock after purchasing an additional 29,878 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Pure Storage were worth $8,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Sycomore Asset Management purchased a new stake in Pure Storage in the 2nd quarter valued at $2,259,000. Citigroup Inc. lifted its position in shares of Pure Storage by 11.3% during the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company's stock valued at $7,235,000 after purchasing an additional 14,659 shares in the last quarter. TT International Asset Management LTD boosted its holdings in Pure Storage by 1,160.1% during the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock worth $3,671,000 after purchasing an additional 67,285 shares during the last quarter. FMR LLC grew its position in Pure Storage by 0.8% in the 3rd quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Pure Storage by 92.0% during the 3rd quarter. Bank of Montreal Can now owns 193,563 shares of the technology company's stock worth $9,570,000 after buying an additional 92,762 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG traded down $0.22 on Friday, reaching $72.15. The company's stock had a trading volume of 2,097,778 shares, compared to its average volume of 1,965,734. The company has a 50-day simple moving average of $61.69 and a 200 day simple moving average of $57.05. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The company has a market cap of $23.54 billion, a P/E ratio of 189.87, a PEG ratio of 8.72 and a beta of 1.09.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Lake Street Capital upped their price objective on Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. UBS Group boosted their price objective on shares of Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a research note on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Barclays upped their price objective on Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 4th. Finally, William Blair reissued an "outperform" rating on shares of Pure Storage in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.70.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the firm's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,178 shares of company stock worth $8,871,746. Corporate insiders own 6.00% of the company's stock.

Pure Storage Company 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.