Twenty Acre Capital LP Has $9.61 Million Stake in Pure Storage, Inc. (NYSE:PSTG)

Twenty Acre Capital LP boosted its position in shares of Pure Storage, Inc. (NYSE:PSTG) by 16.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,428 shares of the technology company’s stock after purchasing an additional 21,600 shares during the quarter. Pure Storage comprises about 7.8% of Twenty Acre Capital LP’s portfolio, making the stock its 2nd biggest position. Twenty Acre Capital LP’s holdings in Pure Storage were worth $9,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PSTG. Sugar Maple Asset Management LLC bought a new position in shares of Pure Storage during the 4th quarter worth approximately $29,000. Compass Financial Services Inc acquired a new stake in shares of Pure Storage during the fourth quarter worth about $29,000. Crowley Wealth Management Inc. acquired a new position in Pure Storage in the 4th quarter worth approximately $31,000. Berbice Capital Management LLC purchased a new position in Pure Storage during the 4th quarter worth approximately $37,000. Finally, Financial Life Planners acquired a new stake in Pure Storage during the 4th quarter valued at approximately $44,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Price Performance

PSTG stock opened at $41.29 on Thursday. The business’s 50-day moving average is $51.94 and its two-hundred day moving average is $56.51. The firm has a market capitalization of $13.46 billion, a P/E ratio of 108.66, a P/E/G ratio of 5.12 and a beta of 1.08. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67.

Analyst Ratings Changes

Several research analysts recently issued reports on PSTG shares. UBS Group raised their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Thursday, February 27th. Citigroup lowered their target price on Pure Storage from $77.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Piper Sandler lowered their price target on shares of Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Pure Storage presently has an average rating of “Moderate Buy” and a consensus price target of $70.95.

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.