Chase Coleman (Trades, Portfolio), the managing partner of Tiger Global Management, acquired a 5,242,615-share stake in Pure Storage Inc. (PSTG, Financial), a Mountain View, Calif.-based data storage company, through his firm on Oct. 7.
The firm paid $18.84 per share in a deal that had a 1% impact on his portfolio. At midday Tuesday, Pure Storage sold for $19.17 per share.
Pure Storage’s signature product is FlashArray, which accelerates applications and was released in 2011. An upgraded version was released in May 2012. The second-generation version was said to have higher resiliency, encryption with zero key management, a new web user interface, command line interface and support for VMware's vStorage interface. New software features were introduced in August 2012.
Pure Storage has a market cap of $3.6 billion and an enterprise value of $628.28 million. It has a P/S of 10.3. GuruFocus has given Pure Storage a Financial Strength rating of 4/10 and a Profitability and Growth rating of 3/10.
Coleman is Pure Storage’s leading shareholder among the gurus. Stanley Druckenmiller also has shares of Pure Storage in his portfolio.
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