Mackenzie Financial Corp Grows Holdings in Pure Storage, Inc. (NYSE:PSTG)

Mackenzie Financial Corp grew its stake in shares of Pure Storage, Inc. (NYSE:PSTG) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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’s holdings in Pure Storage were worth $19,026,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Pure Storage during the 4th quarter worth $90,143,000. Price T Rowe Associates Inc. MD lifted its stake in Pure Storage by 24.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,091,077 shares of the technology company’s stock worth $359,464,000 after acquiring an additional 2,807,489 shares during the period. Assenagon Asset Management S.A. grew its holdings in Pure Storage by 5,725.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,614,837 shares of the technology company’s stock worth $57,520,000 after acquiring an additional 1,587,116 shares in the last quarter. Spyglass Capital Management LLC purchased a new position in Pure Storage during the 4th quarter valued at about $36,678,000. Finally, Acadian Asset Management LLC increased its position in Pure Storage by 61.5% during the 3rd quarter. Acadian Asset Management LLC now owns 3,399,759 shares of the technology company’s stock valued at $121,081,000 after purchasing an additional 1,294,285 shares during the period. 83.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PSTG shares. Evercore ISI increased their price objective on shares of Pure Storage from $41.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Morgan Stanley increased their target price on Pure Storage from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. UBS Group upped their price objective on Pure Storage from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Stifel Nicolaus lifted their target price on Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Finally, TD Cowen increased 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. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.53.

Pure Storage Stock Down 0.9 %

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. Pure Storage, Inc. has a twelve month low of $22.14 and a twelve month high of $58.46. The company has a market cap of $16.84 billion, a PE ratio of 304.90, a P/E/G ratio of 6.79 and a beta of 1.15. The company’s 50 day moving average is $49.93 and its two-hundred day moving average is $41.07.

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

Insider Buying and Selling at Pure Storage

In related news, Director Scott Dietzen sold 147,000 shares of Pure Storage stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the completion of the sale, the director now owns 100,000 shares of the company’s stock, valued at $5,349,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Scott Dietzen sold 147,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $53.49, for a total value of $7,863,030.00. Following the transaction, the director now owns 100,000 shares in the company, valued at approximately $5,349,000. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Dan Fitzsimons sold 29,283 shares of the firm’s 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 transaction, the executive now directly owns 138,105 shares of the company’s stock, valued at $7,200,794.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,295 shares of company stock worth $14,459,604. 6.50% of the stock is currently owned by insiders.

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.