Twenty Acre Capital LP Acquires 51,928 Shares of Pure Storage, Inc. (NYSE:PSTG)

Twenty Acre Capital LP boosted its holdings in Pure Storage, Inc. (NYSE:PSTG) by 62.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 134,828 shares of the technology company’s stock after acquiring an additional 51,928 shares during the quarter. Pure Storage comprises approximately 6.0% of Twenty Acre Capital LP’s portfolio, making the stock its 9th biggest holding. Twenty Acre Capital LP’s holdings in Pure Storage were worth $6,774,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PSTG. Massmutual Trust Co. FSB ADV increased its holdings in shares of Pure Storage by 61.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 424 shares of the technology company’s stock valued at $27,000 after purchasing an additional 161 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Pure Storage by 242.9% during the 2nd quarter. Larson Financial Group LLC now owns 432 shares of the technology company’s stock worth $28,000 after acquiring an additional 306 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Pure Storage during the 3rd quarter worth approximately $31,000. FSC Wealth Advisors LLC acquired a new stake in shares of Pure Storage in the 2nd quarter worth approximately $33,000. Finally, City State Bank increased its stake 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 in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Stock Up 0.2 %

Shares of Pure Storage stock opened at $52.99 on Friday. Pure Storage, Inc. has a 1-year low of $31.00 and a 1-year high of $70.41. The company has a market capitalization of $17.36 billion, a PE ratio of 132.48, a P/E/G ratio of 7.18 and a beta of 1.10. 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 business has a 50-day moving average of $52.06 and a 200-day moving average of $56.82.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $763.77 million during the quarter, compared to the consensus estimate 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 analysts forecast that Pure Storage, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was 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 of the company’s stock, valued at $24,970,000. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mona Chu sold 20,647 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $51.50, for a total value of $1,063,320.50. Following the completion of the sale, the chief accounting officer now owns 75,992 shares of the company’s stock, valued at $3,913,588. This trade represents a 21.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 354,542 shares of company stock worth $18,599,030 in the last ninety days. 6.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on PSTG shares. Piper Sandler decreased their target price on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. UBS Group dropped their target price on shares of Pure Storage from $47.00 to $45.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Raymond James reduced their price target on shares of Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Finally, Lake Street Capital cut their price objective on Pure Storage from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.95.

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.