Insider Selling: Everpure (NYSE:P) Director Sells $343,618.95 in Stock

Everpure, Inc. (NYSE:P) Director Andrew William Fraser Brown sold 4,735 shares of Everpure stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $72.57, for a total transaction of $343,618.95. Following the completion of the transaction, the director directly owned 27,683 shares in the company, valued at $2,008,955.31. The trade was a 14.61% 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 link.

Everpure Stock Performance

Shares of NYSE:P opened at $77.14 on Thursday. The firm has a market cap of $25.64 billion, a PE ratio of 116.88, a P/E/G ratio of 4.46 and a beta of 1.45. The stock’s fifty day simple moving average is $76.42. Everpure, Inc. has a 1-year low of $53.43 and a 1-year high of $100.59.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. During the same period in the previous year, the business posted $0.29 earnings per share. Everpure’s quarterly revenue was up 35.2% on a year-over-year basis. Analysts anticipate that Everpure, Inc. will post 0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings initiated coverage on Everpure in a research note on Monday, April 20th. They set a “hold (c)” rating for the company. Lake Street Capital lifted their target price on Everpure from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. William Blair reissued an “outperform” rating on shares of Everpure in a report on Thursday, May 28th. Guggenheim upped their price target on Everpure from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Everpure in a report on Thursday, May 28th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Everpure presently has an average rating of “Moderate Buy” and an average price target of $96.50.

Institutional Investors Weigh In On Everpure

Institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC raised its position in Everpure by 12.6% in the third quarter. ARK Investment Management LLC now owns 347,093 shares of the company’s stock worth $29,090,000 after acquiring an additional 38,768 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Everpure by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,572,719 shares of the company’s stock worth $202,563,000 after purchasing an additional 50,566 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Everpure by 12.9% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 307,221 shares of the company’s stock worth $25,748,000 after purchasing an additional 35,182 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Everpure during the 4th quarter worth $10,948,000. Finally, Fisher Asset Management LLC purchased a new position in shares of Everpure in the 3rd quarter valued at about $6,016,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

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.