Mackenzie Financial Corp Raises Stock Position in Pure Storage, Inc. (NYSE:PSTG)

Mackenzie Financial Corp grew its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 533,530 shares of the technology company's stock after acquiring an additional 62,274 shares during the period. Mackenzie Financial Corp owned about 0.17% of Pure Storage worth $19,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSTG. Global Retirement Partners LLC bought a new position in shares of Pure Storage during the third quarter valued at about $28,000. Parkside Financial Bank & Trust purchased a new position in shares of Pure Storage during the first quarter valued at about $33,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Pure Storage during the fourth quarter valued at about $45,000. Quarry LP increased its position in shares of Pure Storage by 51.7% during the first quarter. Quarry LP now owns 1,784 shares of the technology company's stock valued at $46,000 after buying an additional 608 shares during the period. Finally, Penserra Capital Management LLC purchased a new position in shares of Pure Storage during the first quarter valued at about $47,000. 83.42% of the stock is owned by institutional investors.

Pure Storage Stock Down 4.6 %

Shares of NYSE PSTG traded down $2.36 during midday trading on Friday, hitting $49.46. The stock had a trading volume of 4,791,890 shares, compared to its average volume of 4,665,894. The business's 50 day moving average is $49.93 and its 200-day moving average is $41.07. The company has a market cap of $16.07 billion, a P/E ratio of 290.96, a PEG ratio of 6.79 and a beta of 1.15. Pure Storage, Inc. has a 52 week low of $22.14 and a 52 week high of $58.46. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.08.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.10. The firm had revenue of $789.81 million for the quarter, compared to the consensus estimate of $784.31 million. Pure Storage had a net margin of 2.17% and a return on equity of 12.60%. The business's revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, analysts predict that Pure Storage, Inc. will post 0.44 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PSTG. Morgan Stanley boosted their price target on shares of Pure Storage from $43.00 to $48.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. Evercore ISI boosted their price target on shares of Pure Storage from $41.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. TD Cowen boosted their price target on shares of Pure Storage from $42.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th. Needham & Company LLC restated a "buy" rating and issued a $66.00 price objective on shares of Pure Storage in a report on Thursday, April 11th. Finally, KeyCorp upped their price objective on shares of Pure Storage from $51.00 to $55.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Pure Storage currently has an average rating of "Moderate Buy" and an average price target of $51.63.

Insider Activity at Pure Storage

In related news, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $52.80, for a total transaction of $807,100.80. Following the transaction, the chief financial officer now owns 507,824 shares in the company, valued at $26,813,107.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pure Storage news, insider Ajay Singh sold 37,588 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $53.54, for a total value of $2,012,461.52. Following the transaction, the insider now directly owns 380,834 shares in the company, valued at $20,389,852.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO P. Kevan Krysler sold 15,286 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total transaction of $807,100.80. Following the completion of the transaction, the chief financial officer now owns 507,824 shares in the company, valued at $26,813,107.20. The disclosure for this sale can be found here. Insiders have sold a total of 286,581 shares of company stock worth $15,266,704 over the last quarter. Company insiders own 6.50% of the company's stock.

About Pure Storage

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.