Everpure, Inc. (NYSE:PSTG) Short Interest Update

Everpure, Inc. (NYSE:PSTG) was the target of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 7,535,265 shares, a decrease of 12.3% from the February 12th total of 8,590,325 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 4,804,152 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 4,804,152 shares, the short-interest ratio is presently 1.6 days. Approximately 2.4% of the shares of the company are sold short.

Everpure Trading Up 2.2%

NYSE PSTG opened at $62.86 on Tuesday. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of 114.29, a PEG ratio of 4.60 and a beta of 1.29. Everpure has a 12 month low of $34.51 and a 12 month high of $100.59. The company’s 50 day moving average is $69.06 and its two-hundred day moving average is $77.89.

Everpure (NYSE:PSTG) last posted its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The company’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. Sell-side analysts forecast that Everpure will post 0.44 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Tigress Financial set a $105.00 price objective on shares of Everpure in a research report on Wednesday, December 3rd. Wells Fargo & Company cut their target price on shares of Everpure from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Susquehanna set a $105.00 target price on shares of Everpure in a research note on Wednesday, December 3rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Everpure in a report on Wednesday, December 3rd. Finally, UBS Group raised their price target on Everpure from $60.00 to $63.00 and gave the stock a “sell” rating in a research note on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.53.

Insider Activity

In other news, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction dated 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 owned 215,091 shares of the company’s stock, 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 SEC, which is available through this link. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Everpure by 1.9% during the third quarter. Vanguard Group Inc. now owns 33,891,025 shares of the technology company’s stock valued at $2,840,407,000 after acquiring an additional 623,019 shares during the period. State Street Corp lifted its position in shares of Everpure by 0.8% in the fourth quarter. State Street Corp now owns 10,953,501 shares of the technology company’s stock valued at $733,994,000 after acquiring an additional 88,583 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Everpure by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 7,716,158 shares of the technology company’s stock worth $515,972,000 after acquiring an additional 207,317 shares during the period. Atreides Management LP boosted its stake in shares of Everpure by 15.4% in the third quarter. Atreides Management LP now owns 4,098,376 shares of the technology company’s stock worth $343,485,000 after acquiring an additional 545,890 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Everpure by 786.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the technology company’s stock worth $337,554,000 after purchasing an additional 3,573,493 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

About Everpure

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.