Tiger Global Updates Pure Storage Position ~ market folly

Monday, April 11, 2016

Tiger Global Updates Pure Storage Position

Chase Coleman's hedge fund firm Tiger Global has submitted various SEC filings recently pertaining to their stake in Pure Storage (PSTG). 

Per a Form 4 filed with the SEC, Tiger Global sold over 3.27 million shares of Pure Storage on April 4th at a price of $13.75. 

After the transactions, Tiger Global owns 2% of the company, or 1 million shares per the additional 13G they disclosed.  Back at the end of 2015, they previously owned 5.24 million shares of PSTG per their 13F filing. 

In a previous Form 4 filed with the SEC in March, Tiger indicated it had converted its 4.2 million Class B shares into Class A shares on a 1:1 basis.

This yet another example of one of Tiger Global's private investments that has gone public (PSTG IPO'd in the fourth quarter of last year).

Per Google Finance, Pure Storage is "a United States-based flash enterprise storage array company. The Company enables the deployment of flash in the data center. The Pure Storage FlashArray is ideal for high performance workloads, including server virtualization, desktop virtualization (VDI), database (OLTP, real-time analytics), and cloud computing. Its application includes VMware, Virtual Desktop Infrastructure (VDI), Oracle Database and structured query language (SQL) Server. Its vSphere Web Client plugin enables complete management of storage within VMware: automatically create, expand or shrink datastores, see array-side capacity and performance of each datastore, and understand real storage usage through deduplication."

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