HighVista Strategies LLC Purchases New Stake in Everpure, Inc. $PSTG

HighVista Strategies LLC acquired a new position in shares of Everpure, Inc. (NYSE:PSTG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,400 shares of the technology company’s stock, valued at approximately $1,710,000.

Several other hedge funds also recently modified their holdings of PSTG. Winnow Wealth LLC acquired a new position in Everpure in the third quarter valued at approximately $26,000. Provenance Wealth Advisors LLC bought a new position in shares of Everpure in the 3rd quarter worth $27,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Everpure during the third quarter worth $28,000. Assetmark Inc. lifted its stake in Everpure by 186.6% in the third quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares during the period. Finally, Banque Transatlantique SA bought a new position in Everpure during the third quarter worth about $29,000. Institutional investors own 83.42% of the company’s stock.

Everpure Stock Up 0.8%

Shares of PSTG stock opened at $61.50 on Monday. Everpure, Inc. has a 12 month low of $34.51 and a 12 month high of $100.59. The company’s fifty day simple moving average is $69.19 and its 200-day simple moving average is $78.01. The firm has a market cap of $20.30 billion, a PE ratio of 111.81, a P/E/G ratio of 4.60 and a beta of 1.29.

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

Analysts Set New Price Targets

Several brokerages have commented on PSTG. Evercore reaffirmed an “outperform” rating on shares of Everpure in a research note on Wednesday, December 3rd. TD Cowen reiterated a “buy” rating on shares of Everpure in a report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Everpure in a report on Thursday, January 22nd. Wedbush reiterated an “outperform” rating and set a $100.00 price objective on shares of Everpure in a report on Monday, February 23rd. Finally, Oppenheimer initiated coverage on shares of Everpure in a report on Monday, November 17th. They set an “outperform” rating and a $120.00 target price on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.53.

Insider Buying and Selling at Everpure

In other news, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total value of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by insiders.

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.