JANA Partners Management LP Invests $77.94 Million in Everpure, Inc. $P

JANA Partners Management LP bought a new position in Everpure, Inc. (NYSE:P) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 989,196 shares of the company’s stock, valued at approximately $77,939,000. Everpure comprises 4.1% of JANA Partners Management LP’s portfolio, making the stock its 9th largest holding. JANA Partners Management LP owned about 0.30% of Everpure at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in P. Integrated Wealth Concepts LLC purchased a new stake in shares of Everpure in the first quarter worth approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Everpure by 129.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company’s stock valued at $387,000 after buying an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Everpure by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company’s stock valued at $50,377,000 after buying an additional 595,307 shares during the last quarter. Empowered Funds LLC grew its holdings in Everpure by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $212,000 after buying an additional 194 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Everpure by 261.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company’s stock worth $184,000 after buying an additional 2,316 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Everpure Stock Performance

P stock opened at $97.98 on Friday. The stock has a market capitalization of $32.57 billion, a PE ratio of 134.22, a P/E/G ratio of 3.72 and a beta of 1.43. The stock has a fifty day simple moving average of $87.26. Everpure, Inc. has a 1-year low of $56.78 and a 1-year high of $119.10.

Everpure (NYSE:P) last announced its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue was up 37.7% on a year-over-year basis. As a group, equities research analysts forecast that Everpure, Inc. will post 0.96 earnings per share for the current year.

Insider Transactions at Everpure

In other Everpure news, insider Ajay Singh sold 9,787 shares of the stock in a transaction dated 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 transaction, the insider owned 340,939 shares in the company, valued at $26,634,154.68. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 6,474,080 shares of the company’s stock, valued at approximately $627,856,278.40. This trade represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 817,520 shares of company stock worth $77,276,792. 5.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on P. Bank of America upgraded Everpure from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $150.00 in a research note on Thursday, August 27th. Lake Street Capital reiterated a “buy” rating and issued a $120.00 target price on shares of Everpure in a report on Thursday, August 27th. William Blair reissued an “outperform” rating on shares of Everpure in a research report on Thursday, May 28th. Zacks Research cut shares of Everpure from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, TD Cowen boosted their price target on shares of Everpure from $100.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $129.10.

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.