Twenty Acre Capital LP Has $9.61 Million Position in Pure Storage, Inc. (NYSE:PSTG)

Twenty Acre Capital LP increased its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,428 shares of the technology company's stock after buying an additional 21,600 shares during the quarter. Pure Storage comprises 7.8% of Twenty Acre Capital LP's portfolio, making the stock its 2nd largest holding. Twenty Acre Capital LP's holdings in Pure Storage were worth $9,609,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new position in shares of Pure Storage during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Pure Storage during the 4th quarter worth $31,000. Berbice Capital Management LLC acquired a new position in shares of Pure Storage in the 4th quarter worth $37,000. Finally, Financial Life Planners acquired a new stake in shares of Pure Storage during the fourth quarter worth $44,000. Institutional investors own 83.42% of the company's stock.

Pure Storage Price Performance

Shares of Pure Storage stock traded up $0.48 during midday trading on Tuesday, hitting $40.69. The company had a trading volume of 605,103 shares, compared to its average volume of 3,109,836. The stock has a market cap of $13.27 billion, a PE ratio of 106.99, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 1-year low of $34.51 and a 1-year high of $73.67. The business's 50 day simple moving average is $50.30 and its two-hundred day simple moving average is $56.42.

Analyst Ratings Changes

A number of brokerages recently weighed in on PSTG. Piper Sandler dropped their price target on Pure Storage from $76.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup reduced their price target on shares of Pure Storage from $77.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a research report on Thursday, February 27th. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Bank of America decreased their price objective on Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Pure Storage presently has an average rating of "Moderate Buy" and an average target price of $70.95.

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.