Insider Selling: Everpure (NYSE:P) Insider Sells 82,266 Shares of Stock

Everpure, Inc. (NYSE:P) insider John Colgrove sold 82,266 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $70.50, for a total transaction of $5,799,753.00. Following the sale, the insider directly owned 66,927 shares in the company, valued at approximately $4,718,353.50. This trade represents a 55.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Colgrove also recently made the following trade(s):

• On Thursday, April 23rd, John Colgrove sold 71,959 shares of Everpure stock. The shares were sold at an average price of $70.06, for a total value of $5,041,447.54.
• On Tuesday, April 21st, John Colgrove sold 16,840 shares of Everpure stock. The stock was sold at an average price of $70.06, for a total transaction of $1,179,810.40.

Everpure Stock Performance

Shares of P stock traded up $0.63 during trading on Thursday, hitting $69.99. 2,607,278 shares of the company were exchanged, compared to its average volume of 3,334,796. Everpure, Inc. has a twelve month low of $43.08 and a twelve month high of $100.59. The stock has a market cap of $23.13 billion, a P/E ratio of 127.26, a P/E/G ratio of 5.16 and a beta of 1.34.

Everpure (NYSE:P) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. Sell-side analysts predict that Everpure, Inc. will post 0.72 EPS for the current year.

Institutional Investors Weigh In On Everpure

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Westfield Capital Management Co. LP lifted its position in shares of Everpure by 69.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company’s stock worth $146,798,000 after acquiring an additional 717,834 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Everpure by 96.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the company’s stock valued at $2,612,000 after purchasing an additional 15,286 shares in the last quarter. AlTi Global Inc. acquired a new position in shares of Everpure in the third quarter valued at $2,517,000. Merit Financial Group LLC lifted its position in Everpure by 145.6% in the third quarter. Merit Financial Group LLC now owns 25,943 shares of the company’s stock worth $2,174,000 after purchasing an additional 15,382 shares during the period. Finally, ARK Investment Management LLC boosted its stake in Everpure by 12.6% during the third quarter. ARK Investment Management LLC now owns 347,093 shares of the company’s stock worth $29,090,000 after buying an additional 38,768 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on P shares. Wall Street Zen upgraded shares of Everpure from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings started coverage on shares of Everpure in a report on Monday. They issued a “hold (c)” rating for the company. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective on shares of Everpure in a report on Monday, February 23rd. Barclays upped their price objective on shares of Everpure from $77.00 to $81.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Finally, Citigroup decreased their price objective on shares of Everpure from $105.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Thirteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.21.

About Everpure

Pure Storage, Inc 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. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array.