Everpure (NYSE:P) Stock: Insider Andrew William Fraser Brown Sells 4,268 Shares

Everpure, Inc. (NYSE:P) Director Andrew Brown sold 4,268 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $156.03, for a total transaction of $665,936.04. Following the completion of the transaction, the director directly owned 23,415 shares in the company, valued at $3,653,442.45. This represents a 15.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Everpure Stock Performance

Shares of Everpure stock opened at $141.26 on Thursday. Everpure, Inc. has a one year low of $56.78 and a one year high of $157.57. The stock has a market cap of $47.07 billion, a P/E ratio of 193.79, a P/E/G ratio of 5.24 and a beta of 1.39. The stock’s fifty day moving average price is $114.28.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on P shares. JPMorgan Chase & Co. lifted their price objective on Everpure from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. TD Cowen boosted their target price on Everpure from $100.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Barclays increased their target price on Everpure from $110.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, September 25th. Zacks Research cut Everpure from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Lake Street Capital raised their price target on Everpure from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Seventeen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.25.

Key Headlines Impacting Everpure

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure’s fundamental growth remains a key support. The company’s latest quarterly revenue rose 37.7% year over year to $1.19 billion, while earnings per share of $0.70 significantly exceeded the $0.19 consensus estimate. An analysis also suggests profits could nearly double, although that potential is already reflected in the valuation. Everpure Could Almost Double Its Profit, But Valuation Remains High
• Positive Sentiment: Analyst sentiment is generally favorable: 17 analysts rate Everpure a Buy, four rate it a Hold, and one rates it a Sell. The consensus rating is “Moderate Buy,” although the average price target of $143.25 is below recent trading levels, limiting near-term upside implied by analyst targets.
• Neutral Sentiment: A broader market selloff affected Everpure and other technology stocks after September inflation came in at 3.7%, above expectations. Rising energy costs pushed bond yields higher, increasing pressure on richly valued growth companies. RUM Group, Everpure, WEBTOON, Magnite, and Kyndryl Shares Are Falling
• Negative Sentiment: Valuation is a significant risk. Everpure trades at roughly 193 times earnings, with a PEG ratio above 5, meaning the stock could remain vulnerable to a pullback if growth slows or results fail to exceed ambitious expectations.
• Negative Sentiment: Insider selling may be weighing on sentiment. Director Andrew Brown sold 4,268 shares, Chief Accounting Officer Mona Chu sold 5,112 shares, and insider John Colgrove sold 100,000 shares worth approximately $15.4 million. Colgrove’s transaction was executed under a pre-arranged Rule 10b5-1 plan, which reduces its value as a signal about management’s outlook, but the volume of sales can still concern investors. SEC insider transaction filing

Hedge Funds Weigh In On Everpure

Large investors have recently made changes to their positions in the stock. Fortitude Family Office LLC boosted its holdings in Everpure by 49.0% during the third quarter. Fortitude Family Office LLC now owns 362 shares of the company’s stock worth $47,000 after buying an additional 119 shares in the last quarter. Continuum Advisory LLC purchased a new position in Everpure in the second quarter valued at about $29,000. Reflection Asset Management acquired a new stake in shares of Everpure during the 4th quarter valued at approximately $32,000. SHP Wealth Management acquired a new stake in shares of Everpure during the 4th quarter valued at approximately $36,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Everpure during the 2nd quarter valued at approximately $67,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

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.