Napean Trading & Investment Co Singapore PTE Ltd Decreases Stake in Pure Storage, Inc. (NYSE:PSTG)

Napean Trading & Investment Co Singapore PTE Ltd cut its holdings in shares of Pure Storage, Inc. (NYSE:PSTG) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,448 shares of the technology company’s stock after selling 16,822 shares during the quarter. Pure Storage makes up approximately 2.3% of Napean Trading & Investment Co Singapore PTE Ltd’s portfolio, making the stock its 17th largest holding. 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc grew its holdings in Pure Storage by 22.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,960 shares of the technology company’s stock valued at $249,000 after buying an additional 925 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Pure Storage in the 3rd quarter worth approximately $392,000. Citigroup Inc. grew its stake in shares of Pure Storage by 11.3% during the third quarter. Citigroup Inc. now owns 144,005 shares of the technology company’s stock valued at $7,235,000 after buying an additional 14,659 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after buying an additional 212 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Pure Storage by 29.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 995,019 shares of the technology company’s stock valued at $49,990,000 after acquiring an additional 225,949 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

Pure Storage Stock Up 0.6 %

NYSE PSTG opened at $51.11 on Monday. Pure Storage, Inc. has a twelve month low of $44.76 and a twelve month high of $73.67. The business has a 50-day moving average price of $61.53 and a 200-day moving average price of $57.38. The firm has a market cap of $16.67 billion, a price-to-earnings ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09.

Insider Activity

In other news, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the sale, the executive now owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Barclays increased their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. TD Cowen upped their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Evercore ISI increased their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage 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 issued a buy rating to the company’s stock. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

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.