Migdal Insurance & Financial Holdings Ltd. Has $27.64 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 66.7% during the 4th quarter, according to its most recent disclosure 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 period. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.25% of Pure Storage worth $27,637,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Scissortail Wealth Management LLC acquired a new position in Pure Storage in the fourth quarter valued at approximately $664,000. Avior Wealth Management LLC raised its holdings in shares of Pure Storage by 31.2% during the fourth quarter. Avior Wealth Management LLC now owns 8,837 shares of the technology company’s stock worth $315,000 after acquiring an additional 2,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Pure Storage by 23.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,577 shares of the technology company’s stock valued at $3,230,000 after acquiring an additional 17,111 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in Pure Storage by 4.5% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 583,802 shares of the technology company’s stock worth $20,818,000 after buying an additional 24,921 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Pure Storage by 13.2% during the 4th quarter. Mackenzie Financial Corp now owns 533,530 shares of the technology company’s stock worth $19,026,000 after buying an additional 62,274 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, Director Roxanne Taylor sold 36,860 shares of the company’s 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 completion of the transaction, the director now directly owns 18,883 shares in the company, valued at approximately $1,015,150.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Ajay Singh sold 37,588 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $53.54, for a total transaction of $2,012,461.52. Following the completion of the sale, the insider now directly owns 380,834 shares in the company, valued at $20,389,852.36. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Roxanne Taylor sold 36,860 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $53.76, for a total transaction of $1,981,593.60. Following the sale, the director now owns 18,883 shares of the company’s stock, valued at $1,015,150.08. The disclosure for this sale can be found here. Corporate insiders own 6.50% of the company’s stock.

Pure Storage Price Performance

NYSE:PSTG traded down $0.57 on Wednesday, hitting $52.74. The company had a trading volume of 1,864,914 shares, compared to its average volume of 4,682,610. The stock has a market capitalization of $17.14 billion, a price-to-earnings ratio of 313.61, a PEG ratio of 6.79 and a beta of 1.15. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $49.58 and a two-hundred day moving average of $40.92. Pure Storage, Inc. has a 52 week low of $22.14 and a 52 week high of $58.46.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The business had revenue of $789.81 million during the quarter, compared to the consensus estimate of $784.31 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that Pure Storage, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

PSTG has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of Pure Storage in a research note on Friday, March 15th. They set a “buy” rating and a $65.00 price objective on the stock. Bank of America upped their price target on shares of Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Wedbush reiterated an “outperform” rating and issued a $50.00 price target on shares of Pure Storage in a research note on Thursday, February 29th. TD Cowen upped their price target on shares of Pure Storage from $42.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Susquehanna upped their price target on shares of Pure Storage from $45.00 to $65.00 and gave the company a “positive” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.53.

Pure Storage Company 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.