Pure Storage, Inc. (NYSE:PSTG) Shares Sold by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. reduced its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 16.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new position in Pure Storage during the 4th quarter worth $29,000. Compass Financial Services Inc acquired a new position in Pure Storage during the 4th quarter worth $29,000. Larson Financial Group LLC boosted its holdings in shares of Pure Storage by 49.1% in the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after buying an additional 212 shares during the period. Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the 4th quarter valued at about $37,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Pure Storage by 40.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company’s stock valued at $38,000 after buying an additional 219 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on PSTG shares. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $56.00 to $76.00 in a report on Wednesday, December 4th. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Barclays lifted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Citigroup decreased their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Price Performance

NYSE PSTG opened at $49.34 on Friday. The company’s 50 day simple moving average is $64.22 and its 200 day simple moving average is $57.79. Pure Storage, Inc. has a 12 month low of $44.76 and a 12 month high of $73.67. The company has a market capitalization of $16.09 billion, a P/E ratio of 129.83, a PEG ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling

In other news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the transaction, the executive now directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,178 shares of company stock worth $2,316,746 in the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

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.