BOK Financial Private Wealth Inc. Lowers Holdings in Pure Storage, Inc. (NYSE:PSTG)

BOK Financial Private Wealth Inc. reduced its position in Pure Storage, Inc. (NYSE:PSTG) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,548 shares of the technology company’s stock after selling 3,159 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Pure Storage were worth $955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sugar Maple Asset Management LLC bought a new stake in Pure Storage during the fourth quarter valued at about $29,000. Compass Financial Services Inc purchased a new stake in shares of Pure Storage in the fourth quarter valued at approximately $29,000. Berbice Capital Management LLC bought a new position in Pure Storage in the fourth quarter worth approximately $37,000. Larson Financial Group LLC raised its stake in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares in the last quarter. Finally, Financial Life Planners acquired a new position in shares of Pure Storage during the fourth quarter worth $44,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the sale, the executive now directly owns 72,927 shares in the company, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,178 shares of company stock valued at $2,316,746. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several research reports. Stifel Nicolaus upped their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Wells Fargo & Company boosted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer assumed coverage on shares of Pure Storage in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Barclays boosted their target price on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Up 0.8 %

NYSE:PSTG opened at $49.34 on Friday. The company has a market cap of $16.09 billion, a P/E ratio of 129.83, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage, Inc. has a fifty-two week low of $44.76 and a fifty-two week high of $73.67. The firm’s 50 day moving average is $64.22 and its two-hundred day moving average is $57.79.

Pure Storage 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.