Twenty Acre Capital LP Has $6.77 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Twenty Acre Capital LP lifted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 62.6% during the third quarter, Holdings Channel reports. The firm owned 134,828 shares of the technology company’s stock after buying an additional 51,928 shares during the period. Pure Storage comprises about 6.0% of Twenty Acre Capital LP’s holdings, making the stock its 9th largest position. Twenty Acre Capital LP’s holdings in Pure Storage were worth $6,774,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PSTG. Massmutual Trust Co. FSB ADV increased its position in Pure Storage by 61.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock worth $27,000 after buying an additional 161 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Pure Storage by 242.9% during the second quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock valued at $28,000 after acquiring an additional 306 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Pure Storage during the third quarter worth about $31,000. FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage in the 2nd quarter worth about $33,000. Finally, City State Bank lifted its position in Pure Storage by 175.0% in the 2nd quarter. City State Bank now owns 550 shares of the technology company’s stock valued at $35,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Performance

Pure Storage stock opened at $52.99 on Friday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The firm’s 50 day simple moving average is $52.06 and its 200-day simple moving average is $56.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96. The company has a market cap of $17.36 billion, a P/E ratio of 132.48, a price-to-earnings-growth ratio of 7.18 and a beta of 1.10.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.10. The firm had revenue of $763.77 million for the quarter, compared to analysts’ expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a return on equity of 17.41%. As a group, equities research analysts predict that Pure Storage, Inc. will post 0.42 EPS for the current year.

Insider Transactions at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.67, for a total value of $450,709.65. Following the completion of the sale, the executive now owns 94,446 shares in the company, valued at $4,785,578.82. This represents a 8.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $49.94, for a total transaction of $4,994,000.00. Following the transaction, the insider now owns 500,000 shares in the company, valued at approximately $24,970,000. This represents a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 354,542 shares of company stock valued at $18,599,030 over the last quarter. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

PSTG has been the topic of several analyst reports. TD Cowen dropped their price target on shares of Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus lowered their target price on Pure Storage from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, August 29th. Piper Sandler reduced their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $80.00 price target on shares of Pure Storage in a report on Monday, August 26th. Finally, William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and an average price target of $67.95.

Pure Storage 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.