Pure Storage, Inc. (NYSE:PSTG) Stock Holdings Increased by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. raised its position in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 66.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 775,000 shares of the technology company's stock after buying an additional 310,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 0.25% of Pure Storage worth $27,637,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PSTG. Mercer Global Advisors Inc. ADV raised its stake in Pure Storage by 2.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 13,300 shares of the technology company's stock valued at $474,000 after purchasing an additional 356 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Pure Storage by 0.3% during the second quarter. LPL Financial LLC now owns 120,438 shares of the technology company's stock worth $3,096,000 after purchasing an additional 357 shares during the period. Cetera Advisors LLC increased its stake in shares of Pure Storage by 2.2% during the fourth quarter. Cetera Advisors LLC now owns 17,066 shares of the technology company's stock valued at $457,000 after buying an additional 368 shares during the period. Advisory Research Inc. lifted its position in shares of Pure Storage by 2.1% in the 3rd quarter. Advisory Research Inc. now owns 22,277 shares of the technology company's stock worth $610,000 after purchasing an additional 452 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in shares of Pure Storage by 53.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,380 shares of the technology company's stock worth $49,000 after acquiring an additional 480 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Andrew William Fraser Brown sold 20,564 shares of the company's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $52.31, for a total value of $1,075,702.84. Following the completion of the sale, the director now owns 24,400 shares of the company's stock, valued at approximately $1,276,364. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Roxanne Taylor sold 36,860 shares of Pure Storage stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $53.76, for a total value of $1,981,593.60. Following the transaction, the director now owns 18,883 shares of the company's stock, valued at approximately $1,015,150.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 20,564 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the sale, the director now directly owns 24,400 shares of the company's stock, valued at approximately $1,276,364. The disclosure for this sale can be found here. Insiders have sold a total of 242,012 shares of company stock worth $12,932,788 in the last three months. Corporate insiders own 6.50% of the company's stock.

Pure Storage Trading Down 1.9 %

PSTG stock traded down $0.99 during midday trading on Wednesday, reaching $52.32. The company's stock had a trading volume of 2,989,547 shares, compared to its average volume of 4,698,772. The stock has a fifty day simple moving average of $49.58 and a two-hundred day simple moving average of $40.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83. The firm has a market capitalization of $17.00 billion, a price-to-earnings ratio of 313.61, a PEG ratio of 6.79 and a beta of 1.15. Pure Storage, Inc. has a 1 year low of $22.14 and a 1 year high of $58.46.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million during the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The company's revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. On average, equities research analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on PSTG shares. JPMorgan Chase & Co. boosted their price target on Pure Storage from $45.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. Wedbush reissued an "outperform" rating and issued a $50.00 target price on shares of Pure Storage in a research report on Thursday, February 29th. Stifel Nicolaus increased their price objective on shares of Pure Storage from $41.00 to $46.00 and gave the stock a "hold" rating in a research note on Thursday, February 29th. Evercore ISI boosted their target price on shares of Pure Storage from $41.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Finally, Citigroup assumed coverage on shares of Pure Storage in a research note on Friday, March 15th. They set a "buy" rating and a $65.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Pure Storage currently has an average rating of "Moderate Buy" and an average target price of $50.53.

Pure Storage Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.