Mackenzie Financial Corp Purchases 62,274 Shares of Pure Storage, Inc. (NYSE:PSTG)

Mackenzie Financial Corp lifted its position in Pure Storage, Inc. (NYSE:PSTG) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 533,530 shares of the technology company’s stock after purchasing an additional 62,274 shares during the quarter. Mackenzie Financial Corp owned about 0.17% of Pure Storage worth $19,026,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Pure Storage in the 3rd quarter valued at about $28,000. Parkside Financial Bank & Trust purchased a new stake in Pure Storage in the first quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new stake in Pure Storage during the fourth quarter valued at approximately $45,000. Quarry LP grew its stake in Pure Storage by 51.7% in the 1st quarter. Quarry LP now owns 1,784 shares of the technology company’s stock worth $46,000 after buying an additional 608 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in Pure Storage in the 1st quarter worth approximately $47,000. Institutional investors own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Pure Storage from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. KeyCorp lifted their price target on Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $66.00 price objective on shares of Pure Storage in a research report on Thursday, April 11th. Citigroup started coverage on Pure Storage in a report on Friday, March 15th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, Susquehanna upped their target price on Pure Storage from $45.00 to $65.00 and gave the stock a “positive” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.53.

Insider Buying and Selling

In other Pure Storage news, CRO Dan Fitzsimons sold 29,283 shares of Pure Storage stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the sale, the executive now directly owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Andrew William Fraser Brown sold 20,564 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $52.31, for a total transaction of $1,075,702.84. Following the sale, the director now owns 24,400 shares of the company’s stock, valued at $1,276,364. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Dan Fitzsimons sold 29,283 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $52.14, for a total transaction of $1,526,815.62. Following the transaction, the executive now directly owns 138,105 shares of the company’s stock, valued at approximately $7,200,794.70. The disclosure for this sale can be found here. Insiders sold a total of 271,295 shares of company stock valued at $14,459,604 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Pure Storage Stock Performance

Shares of NYSE:PSTG opened at $51.83 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $49.93 and a 200-day moving average price of $41.07. The company has a market cap of $16.84 billion, a price-to-earnings ratio of 304.90, a price-to-earnings-growth ratio of 6.79 and a beta of 1.15. Pure Storage, Inc. has a 12 month low of $22.14 and a 12 month high of $58.46.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $789.81 million during the quarter, compared to analyst estimates of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. Pure Storage’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. As a group, equities analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Pure Storage Company Profile

Pure Storage, Inc, together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.