Migdal Insurance & Financial Holdings Ltd. Sells 360,000 Shares of Pure Storage, Inc. (NYSE:PSTG)

Migdal Insurance & Financial Holdings Ltd. cut its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 49.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,000 shares of the technology company's stock after selling 360,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 0.11% of Pure Storage worth $22,422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PSTG. Franklin Resources Inc. grew its position in Pure Storage by 210.2% during the third quarter. Franklin Resources Inc. now owns 2,553,402 shares of the technology company's stock worth $137,628,000 after buying an additional 1,730,123 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Pure Storage by 22.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,063,776 shares of the technology company's stock valued at $204,163,000 after acquiring an additional 747,034 shares during the last quarter. State Street Corp grew its holdings in shares of Pure Storage by 6.5% during the third quarter. State Street Corp now owns 10,262,666 shares of the technology company's stock worth $515,596,000 after purchasing an additional 626,427 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Pure Storage in the third quarter worth approximately $20,470,000. Finally, FMR LLC raised its stake in Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock valued at $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSTG has been the topic of a number of research analyst reports. William Blair reissued an "outperform" rating on shares of Pure Storage in a report on Thursday, November 14th. Barclays increased their target price on Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Needham & Company LLC lifted their price target on Pure Storage from $62.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, UBS Group increased their target price on shares of Pure Storage from $45.00 to $47.00 and gave the stock a "sell" rating in a report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.70.

Insider Buying and Selling at Pure Storage

In other news, 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 completion of the sale, the chief accounting officer now owns 67,681 shares of the company's stock, valued at $4,207,050.96. The trade was a 10.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the sale, the insider now directly owns 7,316,722 shares of the company's stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,178 shares of company stock worth $8,871,746. Company insiders own 6.00% of the company's stock.

Pure Storage Stock Performance

Shares of PSTG stock traded up $1.85 during mid-day trading on Monday, hitting $70.92. The company's stock had a trading volume of 926,689 shares, compared to its average volume of 2,369,263. Pure Storage, Inc. has a 52-week low of $38.78 and a 52-week high of $73.67. The stock has a market cap of $23.14 billion, a price-to-earnings ratio of 186.49, a PEG ratio of 5.26 and a beta of 1.09. The business has a 50-day moving average price of $64.89 and a 200 day moving average price of $57.33.

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.