Napean Trading & Investment Co Singapore PTE Ltd cut its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 largest position. Napean Trading & Investment Co Singapore PTE Ltd's holdings in Pure Storage were worth $9,119,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Prudential Financial Inc. grew its holdings in shares of Pure Storage by 155.8% in the fourth quarter. Prudential Financial Inc. now owns 89,571 shares of the technology company's stock worth $5,502,000 after purchasing an additional 54,557 shares during the last quarter. Summit Creek Advisors LLC grew its stake in Pure Storage by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 373,369 shares of the technology company's stock worth $22,936,000 after acquiring an additional 1,099 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of Pure Storage during the fourth quarter valued at approximately $31,000. Emerald Advisers LLC raised its stake in shares of Pure Storage by 61.0% during the fourth quarter. Emerald Advisers LLC now owns 9,558 shares of the technology company's stock valued at $587,000 after acquiring an additional 3,623 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Pure Storage by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock worth $2,054,448,000 after purchasing an additional 615,931 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.
Pure Storage Stock Performance
NYSE PSTG traded up $0.08 during trading hours on Tuesday, reaching $52.96. The stock had a trading volume of 1,768,388 shares, compared to its average volume of 3,019,298. Pure Storage, Inc. has a 52-week low of $44.76 and a 52-week high of $73.67. The stock has a market cap of $17.28 billion, a P/E ratio of 139.37, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The stock has a fifty day moving average of $61.33 and a 200 day moving average of $57.42.
Analyst Ratings Changes
PSTG has been the topic of a number of research reports. Northland Securities reissued a "market perform" rating and set a $63.00 target price (up previously from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. 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 report on Wednesday, December 4th. Barclays upped their target price on Pure Storage from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 4th. Needham & Company LLC reiterated a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Finally, Wells Fargo & Company upped their price objective on Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. 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 stock. Based on data from MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and an average price target of $73.20.
View Our Latest Analysis on Pure Storage
Insider Buying and Selling
In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated 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 sale, the insider now directly owns 262,144 shares of the company's stock, valued at approximately $16,142,827.52. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is currently owned by corporate insiders.
Pure Storage Profile
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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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