Bokf Na Grows Stock Holdings in Pure Storage, Inc. (NYSE:PSTG)

Bokf Na raised its position in Pure Storage, Inc. (NYSE:PSTG) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,501 shares of the technology company’s stock after acquiring an additional 12,004 shares during the quarter. Bokf Na owned approximately 0.05% of Pure Storage worth $8,460,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PSTG. Truvestments Capital LLC increased its position in shares of Pure Storage by 10.6% during the first quarter. Truvestments Capital LLC now owns 9,641 shares of the technology company’s stock valued at $501,000 after buying an additional 925 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Pure Storage during the first quarter valued at about $1,065,000. Napean Trading & Investment Co Singapore PTE Ltd purchased a new position in shares of Pure Storage during the first quarter valued at about $4,550,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Pure Storage during the first quarter valued at about $1,988,000. Finally, First Commonwealth Financial Corp PA purchased a new position in shares of Pure Storage during the first quarter valued at about $1,352,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

Pure Storage stock traded up $0.85 during midday trading on Friday, reaching $58.27. 1,986,928 shares of the company traded hands, compared to its average volume of 2,628,705. The firm has a market capitalization of $18.95 billion, a price-to-earnings ratio of 208.11, a price-to-earnings-growth ratio of 5.87 and a beta of 1.11. The business has a 50 day moving average of $63.35 and a two-hundred day moving average of $53.62. Pure Storage, Inc. has a 12 month low of $31.00 and a 12 month high of $70.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.96.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, May 29th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Pure Storage had a net margin of 3.19% and a return on equity of 15.34%. The business had revenue of $693.48 million during the quarter, compared to analysts’ expectations of $681.37 million. As a group, research analysts predict that Pure Storage, Inc. will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PSTG shares. Guggenheim reiterated a “buy” rating and set a $72.00 price target on shares of Pure Storage in a research report on Tuesday, June 25th. Raymond James boosted their price target on shares of Pure Storage from $63.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Northland Securities cut shares of Pure Storage from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $58.00 to $68.00 in a report on Thursday, May 30th. Evercore ISI upped their price objective on shares of Pure Storage from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Finally, Stifel Nicolaus upped their price objective on shares of Pure Storage from $46.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.11.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, Director Mallun Yen sold 4,818 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares of the company’s stock, valued at $2,299,560.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO P. Kevan Krysler sold 14,296 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $63.79, for a total value of $911,941.84. Following the completion of the sale, the chief financial officer now directly owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mallun Yen sold 4,818 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $64.78, for a total transaction of $312,110.04. Following the completion of the sale, the director now directly owns 35,498 shares of the company’s stock, valued at $2,299,560.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,114 shares of company stock valued at $7,174,052. Insiders own 6.00% of the company’s stock.

About Pure Storage

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.