New Age Alpha Advisors LLC Takes $3.38 Million Position in Everpure, Inc. $P

New Age Alpha Advisors LLC bought a new stake in Everpure, Inc. (NYSE:P) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,385 shares of the company’s stock, valued at approximately $3,376,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westfield Capital Management Co. LP raised its holdings in shares of Everpure by 69.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company’s stock valued at $146,798,000 after purchasing an additional 717,834 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Everpure by 96.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the company’s stock valued at $2,612,000 after buying an additional 15,286 shares during the period. AlTi Global Inc. bought a new position in Everpure during the third quarter valued at about $2,517,000. ARK Investment Management LLC grew its position in Everpure by 12.6% during the third quarter. ARK Investment Management LLC now owns 347,093 shares of the company’s stock valued at $29,090,000 after buying an additional 38,768 shares during the period. Finally, RBA Wealth Management LLC bought a new position in Everpure during the third quarter valued at about $5,964,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Everpure Price Performance

Shares of NYSE:P opened at $87.39 on Tuesday. The stock has a market cap of $28.88 billion, a price-to-earnings ratio of 158.89, a price-to-earnings-growth ratio of 6.52 and a beta of 1.44. Everpure, Inc. has a twelve month low of $50.20 and a twelve month high of $100.59.

Everpure (NYSE:P) last issued its earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm 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 quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share. Analysts predict that Everpure, Inc. will post 0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Northland Securities upgraded shares of Everpure from a “market perform” rating to an “outperform” rating and increased their price target for the company from $77.00 to $81.00 in a research report on Monday, March 9th. Barclays increased their price target on shares of Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Piper Sandler restated a “buy” rating on shares of Everpure in a research report on Thursday, February 26th. Wedbush restated an “outperform” rating and set a $100.00 price target on shares of Everpure in a research report on Monday, February 23rd. Finally, Citigroup lowered shares of Everpure from a “buy” rating to a “neutral” rating and set a $90.00 price target for the company. in a research report on Thursday, May 14th. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Everpure has an average rating of “Moderate Buy” and a consensus target price of $93.21.

Insiders Place Their Bets

In other Everpure news, insider John Colgrove sold 200,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the completion of the transaction, the insider owned 6,625,221 shares in the company, valued at $569,305,240.53. This trade represents a 2.93% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 534,265 shares of company stock worth $41,321,234 in the last three months. 5.10% of the stock is owned by company insiders.

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.