Hantz Financial Services Inc. Trims Stock Position in Pure Storage, Inc. $PSTG

Hantz Financial Services Inc. decreased its position in Pure Storage, Inc. (NYSE:PSTG) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,809 shares of the technology company’s stock after selling 12,614 shares during the period. Hantz Financial Services Inc.’s holdings in Pure Storage were worth $10,795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc grew its position in Pure Storage by 8.3% in the third quarter. Versant Capital Management Inc now owns 1,598 shares of the technology company’s stock worth $134,000 after acquiring an additional 122 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Pure Storage by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the technology company’s stock valued at $3,667,000 after purchasing an additional 152 shares during the last quarter. State of Wyoming lifted its stake in shares of Pure Storage by 10.3% in the 3rd quarter. State of Wyoming now owns 1,673 shares of the technology company’s stock valued at $140,000 after purchasing an additional 156 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Pure Storage by 11.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,530 shares of the technology company’s stock worth $128,000 after purchasing an additional 162 shares during the period. Finally, Outfitters Financial LLC increased its position in shares of Pure Storage by 1.3% during the 3rd quarter. Outfitters Financial LLC now owns 13,860 shares of the technology company’s stock worth $1,162,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Pure Storage Stock Performance

PSTG stock opened at $68.40 on Wednesday. The company’s 50 day moving average price is $71.98 and its 200 day moving average price is $76.05. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 180.01, a PEG ratio of 5.47 and a beta of 1.27. Pure Storage, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $100.59.

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

Insider Buying and Selling at Pure Storage

In other news, insider Ajay Singh sold 7,178 shares of Pure Storage stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 207,178 shares of company stock valued at $16,771,931 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

PSTG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Lake Street Capital boosted their price target on shares of Pure Storage from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Raymond James Financial upped their price objective on shares of Pure Storage from $88.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Northland Securities set a $77.00 target price on shares of Pure Storage in a report on Wednesday, December 3rd. Finally, Susquehanna set a $105.00 target price on Pure Storage in a report on Wednesday, December 3rd. Twelve 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 has a consensus rating of “Moderate Buy” and an average price target of $95.26.

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.