Napean Trading & Investment Co Singapore PTE Ltd Acquires 77,760 Shares of Pure Storage, Inc. (NYSE:PSTG)

Napean Trading & Investment Co Singapore PTE Ltd boosted its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 88.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,270 shares of the technology company’s stock after acquiring an additional 77,760 shares during the quarter. Pure Storage accounts for 2.5% of Napean Trading & Investment Co Singapore PTE Ltd’s portfolio, making the stock its 16th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd owned about 0.05% of Pure Storage worth $10,612,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. EFG Asset Management Americas Corp. grew its stake in Pure Storage by 73.8% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 28,400 shares of the technology company’s stock worth $1,824,000 after acquiring an additional 12,060 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in Pure Storage by 17.1% in the second quarter. Arcadia Investment Management Corp MI now owns 45,835 shares of the technology company’s stock worth $2,943,000 after purchasing an additional 6,695 shares in the last quarter. Arizona State Retirement System increased its holdings in Pure Storage by 2.8% during the 2nd quarter. Arizona State Retirement System now owns 84,789 shares of the technology company’s stock worth $5,444,000 after purchasing an additional 2,294 shares during the period. Victory Capital Management Inc. raised its position in Pure Storage by 41.2% during the 2nd quarter. Victory Capital Management Inc. now owns 215,492 shares of the technology company’s stock valued at $13,837,000 after purchasing an additional 62,830 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Pure Storage by 72.3% during the 2nd quarter. TD Asset Management Inc now owns 399,350 shares of the technology company’s stock valued at $25,642,000 after purchasing an additional 167,550 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PSTG. Stifel Nicolaus cut their price target on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Company raised their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Barclays upped their price target on shares of Pure Storage from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. KeyCorp lifted their price objective on shares of Pure Storage from $64.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their target price on Pure Storage from $50.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $66.95.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total value of $6,176,000.00. Following the transaction, the insider now directly owns 700,000 shares of the company’s stock, valued at approximately $43,232,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $61.76, for a total transaction of $6,176,000.00. Following the completion of the sale, the insider now owns 700,000 shares of the company’s stock, valued at $43,232,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO P. Kevan Krysler sold 14,296 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $63.79, for a total transaction of $911,941.84. Following the completion of the transaction, the chief financial officer now owns 518,623 shares in the company, valued at approximately $33,082,961.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 324,177 shares of company stock valued at $18,863,083. Insiders own 6.00% of the company’s stock.

Pure Storage Stock Performance

PSTG opened at $45.73 on Friday. The company has a market cap of $14.87 billion, a P/E ratio of 163.32, a price-to-earnings-growth ratio of 7.59 and a beta of 1.11. The company has a quick ratio of 1.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $58.90 and its 200-day moving average price is $56.86. Pure Storage, Inc. has a 52-week low of $31.00 and a 52-week high of $70.41.

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.