Everpure (NYSE:P) Insider John Colgrove Sells 100,000 Shares of Company Stock

Everpure, Inc. (NYSE:P) insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $153.73, for a total value of $15,373,000.00. Following the transaction, the insider owned 2,415,000 shares in the company, valued at $371,257,950. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Colgrove also recently made the following trade(s):

• On Thursday, September 24th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $115.96, for a total transaction of $11,596,000.00.
• On Monday, September 21st, John Colgrove sold 100,000 shares of Everpure stock. The shares were sold at an average price of $110.35, for a total transaction of $11,035,000.00.
• On Thursday, September 10th, John Colgrove sold 100,000 shares of Everpure stock. The shares were sold at an average price of $94.95, for a total transaction of $9,495,000.00.
• On Friday, August 14th, John Colgrove sold 64,815 shares of Everpure stock. The shares were sold at an average price of $117.44, for a total transaction of $7,611,873.60.
• On Thursday, August 13th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $117.21, for a total transaction of $11,721,000.00.
• On Tuesday, August 11th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $104.39, for a total transaction of $10,439,000.00.
• On Monday, August 10th, John Colgrove sold 200,000 shares of Everpure stock. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00.
• On Friday, August 7th, John Colgrove sold 35,185 shares of Everpure stock. The stock was sold at an average price of $90.01, for a total transaction of $3,167,001.85.
• On Tuesday, August 4th, John Colgrove sold 89,720 shares of Everpure stock. The shares were sold at an average price of $85.66, for a total transaction of $7,685,415.20.

Everpure Stock Down 10.0%

Shares of NYSE P opened at $141.26 on Thursday. The firm’s 50-day moving average is $114.28. Everpure, Inc. has a 1-year low of $56.78 and a 1-year high of $157.57. The firm has a market capitalization of $47.07 billion, a price-to-earnings ratio of 193.79, a P/E/G ratio of 5.24 and a beta of 1.39.

Everpure (NYSE:P) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The company had revenue of $1.19 billion for the quarter. Everpure’s revenue was up 37.7% on a year-over-year basis. Sell-side analysts forecast that Everpure, Inc. will post 0.95 earnings per share for the current fiscal year.

Everpure News Roundup

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

Wall Street Analysts Forecast Growth

P has been the subject of several recent research reports. Wedbush restated an “outperform” rating and set a $130.00 price objective on shares of Everpure in a report on Thursday, September 24th. Northland Securities set a $167.00 target price on Everpure in a report on Thursday, September 24th. UBS Group lifted their price target on shares of Everpure from $70.00 to $80.00 and gave the company a “sell” rating in a research report on Thursday, August 27th. Guggenheim lifted their price target on shares of Everpure from $150.00 to $215.00 and gave the company a “buy” rating in a research report on Monday. Finally, Evercore restated an “outperform” rating and set a $145.00 price target on shares of Everpure in a research note on Thursday, September 24th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.25.

Hedge Funds Weigh In On Everpure

Hedge funds have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP boosted its holdings in Everpure by 100.1% during the third quarter. Artemis Investment Management LLP now owns 775,776 shares of the company’s stock worth $101,456,000 after purchasing an additional 388,066 shares during the last quarter. JANA Partners Management LP bought a new stake in Everpure in the 2nd quarter worth about $77,939,000. Engineers Gate Manager LP grew its position in Everpure by 158.1% in the 4th quarter. Engineers Gate Manager LP now owns 415,037 shares of the company’s stock worth $27,812,000 after purchasing an additional 254,211 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Everpure in the 2nd quarter worth about $25,525,000. Finally, S&CO Inc. purchased a new stake in Everpure in the 2nd quarter valued at about $15,003,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

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.