Everpure (NYSE:P) Stock Falls 6.9% – Should You Sell?

Everpure, Inc. (NYSE:P) shares traded down 6.9% during mid-day trading on Monday. The company traded as low as $119.45 and last traded at $118.2480. Approximately 1,039,702 shares traded hands during trading, a decline of 72% from the average daily volume of 3,761,919 shares. The stock had previously closed at $126.98.

Analyst Upgrades and Downgrades

P has been the topic of a number of analyst reports. Zacks Research upgraded shares of Everpure from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Needham & Company LLC lifted their price target on shares of Everpure from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. Morgan Stanley increased their price target on shares of Everpure from $119.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Everpure in a report on Monday, October 12th. Finally, Citigroup lifted their price target on shares of Everpure from $130.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.65.

Everpure Stock Performance

The business has a 50 day moving average price of $120.15. The stock has a market capitalization of $37.16 billion, a price-to-earnings ratio of 152.75, a P/E/G ratio of 3.80 and a beta of 1.43.

Everpure (NYSE:P) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.51. The firm had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The company’s revenue for the quarter was up 37.7% compared to the same quarter last year. As a group, research analysts anticipate that Everpure, Inc. will post 0.95 EPS for the current fiscal year.

Insider Activity at Everpure

In related news, insider Ajay Singh sold 18,267 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $155.24, for a total transaction of $2,835,769.08. Following the sale, the insider directly owned 270,095 shares of the company’s stock, valued at $41,929,547.80. This trade represents a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Dietzen sold 60,000 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $141.60, for a total transaction of $8,496,000.00. Following the completion of the transaction, the director owned 70,000 shares of the company’s stock, valued at approximately $9,912,000. This represents a 46.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,145,371 shares of company stock worth $134,591,122 in the last three months. Company insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Everpure

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JANA Partners Management LP acquired a new position in Everpure during the 2nd quarter worth approximately $77,939,000. Assenagon Asset Management S.A. raised its holdings in shares of Everpure by 504.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock valued at $130,003,000 after purchasing an additional 829,476 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Everpure by 15,793.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 451,842 shares of the company’s stock worth $60,606,000 after purchasing an additional 448,999 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Everpure by 100.1% during the 3rd quarter. Artemis Investment Management LLP now owns 775,776 shares of the company’s stock worth $101,456,000 after buying an additional 388,066 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in Everpure in the second quarter valued at approximately $25,525,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Everpure Company Profile

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.