Harel Insurance Investments & Financial Services Ltd. Acquires 16,686 Shares of Pure Storage, Inc. $PSTG

Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,014 shares of the technology company’s stock after acquiring an additional 16,686 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Pure Storage were worth $7,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mechanics Financial Corp bought a new stake in Pure Storage in the second quarter valued at about $25,000. REAP Financial Group LLC increased its stake in Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock valued at $35,000 after acquiring an additional 201 shares during the period. Ramirez Asset Management Inc. increased its stake in Pure Storage by 40.0% in the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock valued at $40,000 after acquiring an additional 200 shares during the period. American National Bank & Trust bought a new stake in Pure Storage in the second quarter valued at about $45,000. Finally, TruNorth Capital Management LLC bought a new stake in Pure Storage in the first quarter valued at about $38,000. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling at Pure Storage

In other news, Director Roxanne Taylor sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $92.49, for a total transaction of $9,249,000.00. Following the sale, the insider directly owned 200,000 shares in the company, valued at $18,498,000. This trade represents a 33.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 343,111 shares of company stock valued at $27,634,439 over the last three months. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 28th. Citigroup upped their price objective on shares of Pure Storage from $81.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. upped their price objective on shares of Pure Storage from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. UBS Group set a $110.00 price objective on shares of Pure Storage in a research note on Tuesday, October 21st. Finally, Northland Securities upped their price objective on shares of Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.56.

Pure Storage Price Performance

PSTG opened at $98.77 on Friday. Pure Storage, Inc. has a one year low of $34.51 and a one year high of $99.02. The company’s 50 day simple moving average is $85.59 and its 200-day simple moving average is $64.95. The stock has a market capitalization of $32.46 billion, a P/E ratio of 240.90, a price-to-earnings-growth ratio of 8.99 and a beta of 1.22.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The business had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $845.78 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Pure Storage’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, analysts anticipate 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.