Everpure, Inc. $PSTG Position Boosted by Comerica Bank

Comerica Bank increased its position in Everpure, Inc. (NYSE:PSTG) by 22.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 548,469 shares of the technology company’s stock after purchasing an additional 100,377 shares during the period. Comerica Bank owned 0.17% of Everpure worth $45,967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnbrook Capital Management LP bought a new position in Everpure during the third quarter worth $2,012,000. Plum Street Advisors LLC bought a new stake in Everpure during the third quarter valued at $734,000. Banque Transatlantique SA acquired a new stake in shares of Everpure during the third quarter worth $29,000. F m Investments LLC raised its holdings in shares of Everpure by 15.8% during the third quarter. F m Investments LLC now owns 5,292 shares of the technology company’s stock worth $444,000 after purchasing an additional 721 shares during the period. Finally, Pathstone Holdings LLC lifted its position in shares of Everpure by 4.1% in the 3rd quarter. Pathstone Holdings LLC now owns 33,545 shares of the technology company’s stock worth $2,811,000 after buying an additional 1,328 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PSTG shares. Lake Street Capital boosted their price objective on shares of Everpure from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, December 3rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Everpure in a research note on Wednesday, December 3rd. Oppenheimer began coverage on Everpure in a report on Monday, November 17th. They set an “outperform” rating and a $120.00 target price for the company. Tigress Financial set a $105.00 price target on Everpure in a research report on Wednesday, December 3rd. Finally, Barclays raised their price target on Everpure from $77.00 to $81.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.53.

Everpure Trading Up 0.8%

NYSE PSTG opened at $61.50 on Friday. The company has a 50-day moving average price of $69.19 and a two-hundred day moving average price of $77.76. Everpure, Inc. has a 52 week low of $34.51 and a 52 week high of $100.59. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 111.81, a price-to-earnings-growth ratio of 4.57 and a beta of 1.29.

Everpure (NYSE:PSTG) last released its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts expect that Everpure, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Everpure

In other news, insider Ajay Singh sold 7,178 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.60% of the company’s stock.

About Everpure

Everpure, Inc (NYSE: PSTG), formerly known as Pure Storage, Inc, is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays engineered to deliver high performance, low latency, and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics, and large-scale file and object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.