Pure Storage, Inc. $PSTG Shares Sold by Leibman Financial Services Inc.

Leibman Financial Services Inc. decreased its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 50.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,952 shares of the technology company’s stock after selling 19,425 shares during the period. Leibman Financial Services Inc.’s holdings in Pure Storage were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Mechanics Financial Corp purchased a new stake in Pure Storage during the 2nd quarter worth about $25,000. True Wealth Design LLC lifted its position in Pure Storage by 402.8% during the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after buying an additional 439 shares during the period. SouthState Corp increased its position in shares of Pure Storage by 474.8% in the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after acquiring an additional 489 shares in the last quarter. REAP Financial Group LLC boosted its holdings 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 purchasing an additional 201 shares during the last quarter. Finally, Ramirez Asset Management Inc. lifted its stake in Pure Storage by 40.0% during the second quarter. Ramirez Asset Management Inc. now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 200 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In other Pure Storage news, CAO Mona Chu sold 9,091 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $84.91, for a total value of $771,916.81. Following the sale, the chief accounting officer owned 107,353 shares of the company’s stock, valued at $9,115,343.23. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 316,269 shares of company stock valued at $26,792,848 in the last ninety days. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PSTG shares. TD Cowen increased their price target on shares of Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, December 3rd. Citigroup reduced their target price on shares of Pure Storage from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Pure Storage in a research report on Wednesday, October 8th. UBS Group increased their price objective on shares of Pure Storage from $55.00 to $60.00 and gave the stock a “sell” rating in a research report on Wednesday, December 3rd. Finally, Barclays increased their price objective on shares of Pure Storage from $70.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $95.26.

Pure Storage Stock Down 1.3%

NYSE PSTG opened at $68.37 on Tuesday. Pure Storage, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The company has a fifty day moving average of $81.94 and a two-hundred day moving average of $73.25. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of 179.92, a PEG ratio of 7.69 and a beta of 1.28.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data 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 firm had revenue of $763.77 million during the quarter. Equities research analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

About Pure Storage

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.