Migdal Insurance & Financial Holdings Ltd. Acquires 95,000 Shares of Pure Storage, Inc. (NYSE:PSTG)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 15.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 725,000 shares of the technology company's stock after purchasing an additional 95,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.22% of Pure Storage worth $36,424,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Advisor Group LLC boosted its stake in Pure Storage by 27.4% in the 1st quarter. Private Advisor Group LLC now owns 14,312 shares of the technology company's stock worth $744,000 after purchasing an additional 3,077 shares during the period. Quantbot Technologies LP acquired a new position in shares of Pure Storage in the first quarter worth $709,000. PFG Advisors acquired a new stake in Pure Storage during the first quarter valued at $211,000. Swiss National Bank grew its stake in Pure Storage by 1.5% in the first quarter. Swiss National Bank now owns 592,600 shares of the technology company's stock valued at $30,809,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in Pure Storage by 8.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 7,867 shares of the technology company's stock worth $409,000 after purchasing an additional 627 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PSTG. Wedbush restated an "outperform" rating and issued a $80.00 price objective on shares of Pure Storage in a report on Monday, August 26th. UBS Group reduced their price objective on shares of Pure Storage from $47.00 to $45.00 and set a "sell" rating for the company in a research note on Thursday, August 29th. Lake Street Capital lowered their target price on shares of Pure Storage from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Guggenheim increased their price objective on Pure Storage from $72.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, Raymond James reduced their target price on Pure Storage from $73.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.05.

Pure Storage Stock Performance

PSTG stock traded down $1.02 during trading on Friday, reaching $52.91. 2,665,902 shares of the stock were exchanged, compared to its average volume of 2,420,378. Pure Storage, Inc. has a twelve month low of $31.00 and a twelve month high of $70.41. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $17.34 billion, a P/E ratio of 132.28, a price-to-earnings-growth ratio of 8.30 and a beta of 1.10. The stock has a 50 day simple moving average of $51.19 and a 200-day simple moving average of $56.98.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.10. The company had revenue of $763.77 million for the quarter, compared to analyst estimates of $756.59 million. Pure Storage had a return on equity of 17.41% and a net margin of 4.53%. As a group, sell-side analysts anticipate that Pure Storage, Inc. will post 0.43 earnings per share for the current year.

Insider Activity

In other news, CAO Mona Chu sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares of the company's stock, valued at approximately $4,862,874.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Mona Chu sold 25,000 shares of the company's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.32, for a total value of $1,258,000.00. Following the sale, the chief accounting officer now owns 96,639 shares of the company's stock, valued at approximately $4,862,874.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the sale, the insider now owns 500,000 shares of the company's stock, valued at $24,970,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 454,542 shares of company stock worth $24,775,030. 6.00% of the stock is currently owned by corporate insiders.

About Pure Storage

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.