Napean Trading & Investment Co Singapore PTE Ltd trimmed its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 148,448 shares of the technology company's stock after selling 16,822 shares during the quarter. Pure Storage accounts for approximately 2.3% of Napean Trading & Investment Co Singapore PTE Ltd's investment portfolio, making the stock its 17th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd's holdings in Pure Storage were worth $9,119,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of Pure Storage by 11.3% during the 3rd quarter. Citigroup Inc. now owns 144,005 shares of the technology company's stock valued at $7,235,000 after purchasing an additional 14,659 shares in the last quarter. TT International Asset Management LTD increased its holdings in Pure Storage by 1,160.1% in the third quarter. TT International Asset Management LTD now owns 73,085 shares of the technology company's stock valued at $3,671,000 after buying an additional 67,285 shares in the last quarter. FMR LLC raised its position in shares of Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company's stock worth $2,469,487,000 after acquiring an additional 368,643 shares during the period. Sycomore Asset Management raised its position in shares of Pure Storage by 57.8% in the fourth quarter. Sycomore Asset Management now owns 187,874 shares of the technology company's stock worth $11,541,000 after acquiring an additional 68,840 shares during the period. Finally, Asio Capital LLC purchased a new stake in shares of Pure Storage during the 4th quarter worth about $264,000. 83.42% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Pure Storage
In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now owns 262,144 shares of the company's stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.00% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on PSTG shares. Lake Street Capital lifted their price target on Pure Storage from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on Pure Storage from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Citigroup decreased their target price on Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Bank of America decreased their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. One 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.com, Pure Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.20.
View Our Latest Stock Report on PSTG
Pure Storage Stock Down 5.0 %
Shares of PSTG traded down $2.45 during trading on Friday, reaching $46.00. 3,002,676 shares of the company traded hands, compared to its average volume of 3,088,047. The stock has a 50-day simple moving average of $60.09 and a 200-day simple moving average of $57.36. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The stock has a market cap of $15.01 billion, a PE ratio of 121.04, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.
About Pure Storage
(
Free Report)
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.
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