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

Napean Trading & Investment Co Singapore PTE Ltd boosted its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 88.9% in the 2nd quarter, Holdings Channel reports. The fund owned 165,270 shares of the technology company’s stock after buying an additional 77,760 shares during the period. Pure Storage makes up 2.5% of Napean Trading & Investment Co Singapore PTE Ltd’s investment portfolio, making the stock its 16th largest position. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Pure Storage were worth $10,612,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. EFG Asset Management Americas Corp. grew its stake in shares of Pure Storage by 73.8% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 28,400 shares of the technology company’s stock worth $1,824,000 after purchasing an additional 12,060 shares during the period. Arcadia Investment Management Corp MI boosted its stake in shares of Pure Storage by 17.1% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 45,835 shares of the technology company’s stock worth $2,943,000 after acquiring an additional 6,695 shares in the last quarter. Arizona State Retirement System boosted its position in Pure Storage by 2.8% during the second 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 in the last quarter. Victory Capital Management Inc. grew its stake in Pure Storage by 41.2% in the 2nd quarter. Victory Capital Management Inc. now owns 215,492 shares of the technology company’s stock valued at $13,837,000 after acquiring an additional 62,830 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Pure Storage by 72.3% in the second 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 during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pure Storage

In other news, CFO P. Kevan Krysler sold 14,296 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 518,623 shares of the company’s stock, valued at $33,082,961.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO P. Kevan Krysler sold 14,296 shares of Pure Storage stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $63.79, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $52.39, for a total transaction of $5,239,000.00. Following the sale, the insider now owns 800,000 shares in the company, valued at $41,912,000. The disclosure for this sale can be found here. Insiders sold 324,177 shares of company stock valued at $18,863,083 in the last 90 days. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PSTG shares. Lake Street Capital lowered their price target on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of Pure Storage from $50.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Northland Securities reiterated a “market perform” rating and issued a $59.00 price objective (down from $68.00) on shares of Pure Storage in a research report on Thursday, August 29th. UBS Group reduced their target price on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Finally, TD Cowen decreased their price target on Pure Storage from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.95.

Pure Storage Trading Down 2.6 %

Shares of PSTG stock opened at $45.73 on Friday. Pure Storage, Inc. has a fifty-two week low of $31.00 and a fifty-two week high of $70.41. The company has a 50 day moving average price of $58.90 and a 200 day moving average price of $56.86. The stock has a market capitalization 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 debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99.

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.