Everpure (NYSE:P) Announces Earnings Results

Everpure (NYSE:P) released its quarterly earnings results on Wednesday. The company reported $0.70 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 15.97% and a net margin of 5.75%.

Everpure Price Performance

Shares of NYSE P traded up $5.60 during mid-day trading on Wednesday, reaching $108.41. 4,919,467 shares of the company were exchanged, compared to its average volume of 3,290,968. The firm’s 50-day moving average is $84.01. The company has a market capitalization of $36.04 billion, a PE ratio of 164.26, a P/E/G ratio of 5.58 and a beta of 1.45. Everpure has a twelve month low of $56.78 and a twelve month high of $119.10.

Insider Transactions at Everpure

In related news, insider John Colgrove sold 200,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $96.98, for a total value of $19,396,000.00. Following the transaction, the insider owned 6,474,080 shares in the company, valued at approximately $627,856,278.40. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ajay Singh sold 9,787 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the transaction, the insider directly owned 340,939 shares in the company, valued at approximately $26,634,154.68. This represents a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 827,800 shares of company stock worth $78,153,882. 5.10% of the stock is owned by company insiders.

Institutional Trading of Everpure

Several hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its holdings in Everpure by 287.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after buying an additional 244 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Everpure by 2,884.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 388 shares of the company’s stock worth $29,000 after acquiring an additional 375 shares during the period. Continuum Advisory LLC bought a new position in Everpure during the second quarter worth about $29,000. Banque Transatlantique SA acquired a new stake in Everpure in the 3rd quarter worth about $29,000. Finally, Reflection Asset Management acquired a new stake in Everpure in the 4th quarter worth about $32,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on P. Northland Securities set a $90.00 price objective on shares of Everpure in a research report on Thursday, May 28th. TD Cowen lifted their price target on shares of Everpure from $100.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Susquehanna raised shares of Everpure from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $85.00 to $120.00 in a research report on Monday, August 10th. Barclays increased their price objective on shares of Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Finally, Oppenheimer restated an “outperform” rating and issued a $140.00 price objective on shares of Everpure in a report on Thursday, August 20th. Sixteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Everpure currently has a consensus rating of “Moderate Buy” and an average target price of $108.30.

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.