Summit Creek Advisors LLC Purchases New Position in Everpure, Inc. $P

Summit Creek Advisors LLC acquired a new position in Everpure, Inc. (NYSE:P) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 71,972 shares of the company’s stock, valued at approximately $5,671,000. Everpure accounts for about 1.9% of Summit Creek Advisors LLC’s holdings, making the stock its 22nd largest position.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Everpure in the fourth quarter worth $265,327,000. Atreides Management LP bought a new position in Everpure in the 2nd quarter worth about $204,552,000. Polar Capital Holdings Plc boosted its stake in Everpure by 90.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company’s stock worth $237,278,000 after purchasing an additional 1,345,207 shares during the period. AQR Capital Management LLC grew its holdings in Everpure by 62.7% during the 4th quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company’s stock valued at $228,820,000 after buying an additional 1,315,351 shares in the last quarter. Finally, Turiya Advisors Asia Ltd bought a new stake in shares of Everpure during the fourth quarter valued at about $67,010,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Everpure Trading Up 0.2%

Shares of P opened at $117.21 on Wednesday. Everpure, Inc. has a 12-month low of $54.37 and a 12-month high of $119.10. The company has a market cap of $38.96 billion, a P/E ratio of 177.59, a PEG ratio of 6.63 and a beta of 1.45. The firm’s 50-day simple moving average is $80.44.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.07. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. Everpure’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 earnings per share. On average, equities research analysts expect that Everpure, Inc. will post 0.93 EPS for the current year.

Trending Headlines about Everpure

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: TD Cowen raised its price target on Everpure from $100 to $170 and reaffirmed a Buy rating, implying approximately 45% potential upside from the referenced $117.21 price. The analyst reportedly sees Oracle as a potential new hyperscale customer and expects further revenue growth from Meta. Everpure Stock Hits Record High – TD Cowen Says Oracle Could Be Its New Hyperscale Customer
• Positive Sentiment: Brokerage sentiment remains supportive, with Everpure receiving an average “Moderate Buy” recommendation. Recent institutional activity also shows continued ownership from major investors, while institutions and hedge funds hold approximately 83.4% of the shares. Everpure Receives Average Recommendation of Moderate Buy
• Neutral Sentiment: The bullish TD Cowen target contrasts with the broader consensus price target of approximately $101.45, which is below the referenced market price. Everpure also trades at a very elevated earnings multiple, making the stock increasingly dependent on strong execution and continued growth.
• Negative Sentiment: Insider John Colgrove sold 64,815 shares for about $7.6 million and 100,000 shares for approximately $11.7 million. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, and Colgrove still owns more than 6 million shares, reducing—but not eliminating—the negative signaling from the sales. Insider Selling at Everpure

Insiders Place Their Bets

In other news, insider Ajay Singh sold 9,787 shares of Everpure stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the sale, the insider directly owned 340,939 shares of the company’s stock, valued at approximately $26,634,154.68. The trade was a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Colgrove sold 200,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the completion of the transaction, the insider owned 6,474,080 shares of the company’s stock, valued at $627,856,278.40. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 827,800 shares of company stock worth $78,153,882 in the last three months. Insiders own 5.10% of the company’s stock.

Analysts Set New Price Targets

P has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Wells Fargo & Company upped their target price on shares of Everpure from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Wedbush increased their target price on shares of Everpure from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Morgan Stanley raised shares of Everpure from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $87.00 to $108.00 in a report on Monday, August 10th. Finally, Piper Sandler restated an “overweight” rating on shares of Everpure in a research report on Thursday, May 28th. Sixteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $104.95.

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.