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

Everpure, Inc. (NYSE:P) insider John Colgrove sold 100,000 shares of Everpure stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $145.00, for a total value of $14,500,000.00. Following the sale, the insider owned 5,393,309 shares of the company’s stock, valued at approximately $782,029,805. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Monday, October 12th, John Colgrove sold 100,000 shares of Everpure stock. The shares were sold at an average price of $153.73, for a total transaction of $15,373,000.00.
• 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 stock was 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 stock was 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 shares were 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 shares were 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 stock was sold at an average price of $85.66, for a total transaction of $7,685,415.20.

Everpure Stock Down 7.1%

Shares of NYSE:P traded down $9.42 during trading on Friday, reaching $123.98. 3,854,899 shares of the company were exchanged, compared to its average volume of 3,826,813. The business’s fifty day simple moving average is $115.20. Everpure, Inc. has a 12-month low of $56.78 and a 12-month high of $157.57. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 169.84, a PEG ratio of 4.72 and a beta of 1.39.

Everpure (NYSE:P) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The firm had revenue of $1.19 billion during the quarter. The company’s revenue for the quarter was up 37.7% compared to the same quarter last year. On average, sell-side analysts expect that Everpure, Inc. will post 0.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Everpure

Several institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Everpure by 504.0% during the third quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company’s stock worth $130,003,000 after purchasing an additional 829,476 shares in the last quarter. JANA Partners Management LP purchased a new position in Everpure during the 2nd quarter worth $77,939,000. Artemis Investment Management LLP grew its stake in Everpure by 100.1% during the 3rd quarter. Artemis Investment Management LLP now owns 775,776 shares of the company’s stock worth $101,456,000 after buying an additional 388,066 shares during the last quarter. Engineers Gate Manager LP grew its stake in Everpure by 158.1% during the 4th quarter. Engineers Gate Manager LP now owns 415,037 shares of the company’s stock worth $27,812,000 after buying an additional 254,211 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Everpure during the 2nd quarter valued at about $25,525,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Guggenheim lifted their price objective on Everpure from $150.00 to $215.00 and gave the company a “buy” rating in a report on Monday. UBS Group increased their target price on shares of Everpure from $70.00 to $80.00 and gave the stock a “sell” rating in a report on Thursday, August 27th. DA Davidson set a $100.00 target price on shares of Everpure in a report on Wednesday, July 1st. Zacks Research downgraded shares of Everpure from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Everpure in a research report on Thursday, September 24th. Eighteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.25.

Key Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure’s latest quarterly results provide fundamental support. Revenue increased 37.7% year over year to $1.19 billion, driven by enterprise-storage demand and subscription growth, while earnings per share of $0.70 substantially exceeded the $0.19 analyst consensus. Everpure Revenues Surge 38% in Q2
• Positive Sentiment: Everpure was added to the Invesco S&P 500 Equal Weight ETF (RSP), which could generate incremental institutional demand and increase the stock’s visibility. Invesco ETF Adds Everpure
• Neutral Sentiment: Wall Street remains broadly constructive, with a “Moderate Buy” consensus. However, the average analyst price target of $143.25 is below recent trading levels, indicating that much of the expected growth may already be reflected in the share price.
• Negative Sentiment: Insider selling is weighing on sentiment. Ajay Singh sold 18,267 shares for approximately $2.8 million, reducing his position by 6.33%, while John Colgrove sold 100,000 shares worth about $15.4 million. Colgrove’s transaction was conducted under a pre-arranged Rule 10b5-1 plan, making it a less direct signal of management’s outlook, although the scale and repetition of recent sales may concern investors. Everpure Insider Selling
• Negative Sentiment: Valuation risk remains significant. Everpure trades at a very high earnings multiple and has a PEG ratio above 4, leaving the stock vulnerable to profit-taking if growth moderates or future results do not exceed elevated expectations.
• Negative Sentiment: A hotter-than-expected 3.7% inflation reading, partly linked to higher energy costs, pushed bond yields higher and pressured growth-oriented technology shares. Higher interest rates can reduce the appeal of richly valued companies such as Everpure. Technology Stocks Fall on Inflation Concerns

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.