Mackenzie Financial Corp Buys 75,378 Shares of Pure Storage, Inc. (NYSE:PSTG)

Mackenzie Financial Corp lifted its holdings in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 135.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,027 shares of the technology company's stock after acquiring an additional 75,378 shares during the quarter. Mackenzie Financial Corp's holdings in Pure Storage were worth $8,049,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Pure Storage by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company's stock valued at $2,054,448,000 after purchasing an additional 615,931 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Pure Storage by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company's stock worth $442,736,000 after purchasing an additional 401,035 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Pure Storage by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company's stock valued at $413,982,000 after buying an additional 1,366,458 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Pure Storage by 3.0% in the fourth quarter. Champlain Investment Partners LLC now owns 5,921,392 shares of the technology company's stock valued at $363,751,000 after buying an additional 174,449 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Pure Storage by 18.8% in the fourth quarter. Invesco Ltd. now owns 4,162,081 shares of the technology company's stock valued at $255,677,000 after buying an additional 657,175 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PSTG shares. Barclays decreased their price objective on shares of Pure Storage from $61.00 to $57.00 and set an "equal weight" rating on the stock in a report on Thursday. UBS Group upped their target price on shares of Pure Storage from $47.00 to $50.00 and gave the stock a "sell" rating in a research report on Thursday, February 27th. Evercore ISI raised their price target on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Bank of America dropped their price objective on shares of Pure Storage from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Citigroup upped their price objective on Pure Storage from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and an average target price of $70.40.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $40.91, for a total value of $285,429.07. Following the sale, the executive now owns 90,223 shares of the company's stock, valued at approximately $3,691,022.93. This trade represents a 7.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $52.01, for a total value of $5,201,000.00. Following the transaction, the insider now directly owns 801,959 shares of the company's stock, valued at approximately $41,709,887.59. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,849 shares of company stock valued at $5,531,346. 5.60% of the stock is currently owned by corporate insiders.

Pure Storage Stock Down 2.6%

Shares of Pure Storage stock traded down $1.46 during trading on Thursday, reaching $53.69. 7,687,289 shares of the company were exchanged, compared to its average volume of 3,093,500. The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of 141.28, a P/E/G ratio of 5.12 and a beta of 1.05. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The business has a 50-day moving average price of $47.37 and a 200-day moving average price of $55.89.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. The company had revenue of $778.49 million during the quarter, compared to analyst estimates of $770.03 million. During the same quarter in the previous year, the business earned $0.32 EPS. The firm's revenue was up 12.3% on a year-over-year basis. On average, equities research analysts forecast that Pure Storage, Inc. will post 0.44 EPS for the current fiscal year.

Pure Storage Profile

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.