Tiger Global Management LLC, founded by Chase Coleman, has ceased to own more than 5% of Pure Storage Inc. (NYSE:PSTG)’s common stock, as revealed by a freshly-amended 13G filing. The filing shows that Tiger Global currently owns 1.00 million shares of the data-storage company, which account for 2% of its outstanding shares. This marks a decrease of 4.24 million shares from the position revealed in Tiger Global’s 13F filing for the December quarter. Mr. Coleman’s investment firm revealed that 5.24 million-share stake during the fourth quarter, soon after Pure Storage went public. Tiger Global was invested in the promising all-flash enterprise storage array company before it went public in October 2015. Pure Storage Inc. (NYSE:PSTG) shares are down by 5% since the beginning of 2016, and trade well below their IPO price of $17 per share.
Pure Storage generated total revenue of $440.33 million during fiscal year 2016 that ended January 31, up from only $174.45 million in fiscal year 2015. The company’s management anticipates fiscal year 2017 revenue in the range of $685 million to $725 million, which shows that Pure Storage is indeed growing at a fast pace. Some experts and analysts believe that EMC Corporation (NYSE:EMC) will most likely dominate the all-flash industry, as hard drives continue to be replaced by NAND flash memory devices, a trend widely-known as the “all-flash” movement. However, Pure Storage also appears to be well-positioned to benefit from this trend despite facing high competition in the industry. Brad Gerstner’s Altimeter Capital Management owns 2.00 million shares of Pure Storage Inc. (NYSE:PSTG) as of the end of December.
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According to a separate 13G filing, John A. Levin’s Levin Capital Strategies L.P. currently owns 3.07 million shares of Fluidigm Corporation (NASDAQ:FLDM), which make up 10.6% of the company’s common stock. This represents an increase from the stake of 2.83 million shares disclosed in Levin Capital’s initial 13G on the company, filed with the SEC in mid-March. Fluidigm Corporation manufactures and markets innovative technologies and life-science tools focused on the exploration and analysis of single cells and the industrial application of genomics. The company primarily sells instruments and consumables such as integrated fluidic circuits (IFCs), assays and reagents to academic institutions, clinical laboratories, and pharmaceutical, biotechnology, and agricultural biotechnology companies.
Fluidigm’s total revenue for 2015 totaled $114.71 million, compared to $116.46 million in 2014. The decrease was attributable to a decline of $4.9 million in product revenue, which was partly offset by an increase of $3.5 million in service revenue. It is important to note that foreign currency headwinds adversely impacted the company’s 2015 top-line figure by $5.0 million or roughly 15%. The number of money managers tracked by Insider Monkey with stakes in Fluidigm increased to 13 from 11 during the December quarter; those 13 money managers held almost 24% of the company’s outstanding shares at the end of 2015. Samuel Isaly’s OrbiMed Advisors had 2.45 million shares of Fluidigm Corporation (NASDAQ:FLDM) in its equity portfolio at the end of December.
