Everpure Target of Unusually Large Options Trading (NYSE:P)

Everpure, Inc. (NYSE:P) was the recipient of some unusual options trading activity on Wednesday. Investors bought 11,402 call options on the stock. This is an increase of 59% compared to the average daily volume of 7,173 call options.

Everpure Price Performance

P stock opened at $111.40 on Thursday. The stock has a market capitalization of $37.03 billion, a P/E ratio of 168.79, a PEG ratio of 6.19 and a beta of 1.45. Everpure has a one year low of $54.37 and a one year high of $113.80. The business’s 50 day simple moving average is $76.94.

Everpure (NYSE:P) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. During the same quarter in the prior year, the company earned $0.29 EPS. The firm’s revenue was up 35.2% on a year-over-year basis. As a group, equities analysts forecast that Everpure will post 0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on P shares. TD Cowen reiterated a “buy” rating on shares of Everpure in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Everpure in a research report on Friday, July 17th. Lake Street Capital increased their price target on shares of Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. UBS Group lifted their price objective on shares of Everpure from $63.00 to $70.00 and gave the stock a “sell” rating in a report on Thursday, May 28th. Finally, Zacks Research cut Everpure from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.70.

Insider Activity

In other news, Director Mallun Yen sold 4,735 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $76.90, for a total value of $364,121.50. Following the transaction, the director owned 43,281 shares of the company’s stock, valued at approximately $3,328,308.90. This represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 4,735 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $72.57, for a total transaction of $343,618.95. Following the completion of the transaction, the director directly owned 27,683 shares in the company, valued at approximately $2,008,955.31. The trade was a 14.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 562,985 shares of company stock worth $48,382,008. Company insiders own 5.10% of the company’s stock.

Institutional Trading of Everpure

Several institutional investors have recently added to or reduced their stakes in the business. Summit Creek Advisors LLC purchased a new position in shares of Everpure in the second quarter worth about $5,671,000. S&CO Inc. bought a new stake in shares of Everpure in the 2nd quarter valued at about $15,003,000. Bigelow Investment Advisors LLC purchased a new stake in Everpure during the 1st quarter valued at about $231,000. Janney Montgomery Scott LLC boosted its holdings in Everpure by 46.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,138 shares of the company’s stock valued at $1,661,000 after acquiring an additional 8,861 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in Everpure by 22.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 157,702 shares of the company’s stock worth $9,302,000 after acquiring an additional 29,386 shares during the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

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.