Plum Street Advisors LLC Takes Position in Everpure, Inc. $PSTG

Plum Street Advisors LLC purchased a new stake in Everpure, Inc. (NYSE:PSTG) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 8,753 shares of the technology company’s stock, valued at approximately $734,000.

A number of other large investors have also recently bought and sold shares of PSTG. Norges Bank purchased a new position in Everpure during the 2nd quarter worth $225,203,000. Arrowstreet Capital Limited Partnership increased its stake in Everpure by 786.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the technology company’s stock valued at $337,554,000 after purchasing an additional 3,573,493 shares during the period. Atreides Management LP purchased a new stake in shares of Everpure in the second quarter valued at about $204,552,000. Federated Hermes Inc. boosted its stake in shares of Everpure by 1,560.9% during the second quarter. Federated Hermes Inc. now owns 1,343,658 shares of the technology company’s stock worth $77,368,000 after buying an additional 1,262,758 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Everpure by 158.4% during the second quarter. AQR Capital Management LLC now owns 1,938,125 shares of the technology company’s stock worth $110,473,000 after buying an additional 1,188,126 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Trading Up 0.8%

NYSE PSTG opened at $61.50 on Friday. The stock has a market capitalization of $20.30 billion, a price-to-earnings ratio of 111.81, a PEG ratio of 4.57 and a beta of 1.29. The business’s 50 day moving average is $69.19 and its two-hundred day moving average is $77.76. Everpure, Inc. has a 12-month low of $34.51 and a 12-month high of $100.59.

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

Insider Buying and Selling

In other Everpure news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PSTG shares. Northland Securities upgraded Everpure from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $77.00 to $81.00 in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everpure in a research report on Thursday, January 22nd. Susquehanna set a $105.00 target price on Everpure in a research note on Wednesday, December 3rd. Piper Sandler reissued a “buy” rating on shares of Everpure in a report on Thursday, February 26th. Finally, Barclays upped their price target on Everpure from $77.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.53.

Everpure Profile

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.