Short Interest in Everpure, Inc. (NYSE:PSTG) Decreases By 12.3%

Everpure, Inc. (NYSE:PSTG) was the recipient of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 7,535,265 shares, a decline of 12.3% from the February 12th total of 8,590,325 shares. Based on an average daily volume of 4,804,152 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.4% of the shares of the company are short sold. Approximately 2.4% of the shares of the company are short sold. Based on an average daily volume of 4,804,152 shares, the days-to-cover ratio is presently 1.6 days.

Insider Buying and Selling

In related news, insider Ajay Singh sold 7,178 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the transaction, the insider owned 215,091 shares in the company, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Everpure

Several hedge funds have recently modified their holdings of the company. Winnow Wealth LLC purchased a new position in shares of Everpure in the 3rd quarter valued at about $26,000. Provenance Wealth Advisors LLC purchased a new position in Everpure during the third quarter worth approximately $27,000. Salomon & Ludwin LLC grew its holdings in Everpure by 108.2% in the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the technology company’s stock valued at $27,000 after purchasing an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in Everpure in the third quarter valued at approximately $28,000. Finally, Sunbelt Securities Inc. increased its position in shares of Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock valued at $28,000 after buying an additional 244 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PSTG. Northland Securities upgraded shares of Everpure from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $77.00 to $81.00 in a research note on Monday, March 9th. Wells Fargo & Company reduced their target price on shares of Everpure from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Everpure in a research report on Wednesday, December 3rd. TD Cowen reaffirmed a “buy” rating on shares of Everpure in a report on Wednesday, December 3rd. Finally, Susquehanna set a $105.00 price target on Everpure in a research report on Wednesday, December 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.53.

Everpure Price Performance

Shares of NYSE PSTG opened at $64.44 on Thursday. The stock has a market capitalization of $21.28 billion, a price-to-earnings ratio of 117.17, a PEG ratio of 4.75 and a beta of 1.29. Everpure has a 12 month low of $34.51 and a 12 month high of $100.59. The firm’s 50 day simple moving average is $68.86 and its 200-day simple moving average is $77.69.

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

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.