Vinva Investment Management Ltd Boosts Stock Holdings in Everpure, Inc. $PSTG

Vinva Investment Management Ltd raised its position in shares of Everpure, Inc. (NYSE:PSTG) by 397.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,492 shares of the technology company’s stock after purchasing an additional 110,652 shares during the period. Vinva Investment Management Ltd’s holdings in Everpure were worth $11,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Everpure during the 2nd quarter worth $225,203,000. Atreides Management LP bought a new stake in Everpure in the 2nd quarter valued at about $204,552,000. Federated Hermes Inc. lifted its holdings in Everpure by 1,560.9% during the second quarter. Federated Hermes Inc. now owns 1,343,658 shares of the technology company’s stock valued at $77,368,000 after purchasing an additional 1,262,758 shares during the last quarter. AQR Capital Management LLC boosted its position in Everpure by 158.4% during the second quarter. AQR Capital Management LLC now owns 1,938,125 shares of the technology company’s stock worth $110,473,000 after purchasing an additional 1,188,126 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Everpure by 75.0% in the second quarter. JPMorgan Chase & Co. now owns 2,525,955 shares of the technology company’s stock worth $145,445,000 after purchasing an additional 1,082,606 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Everpure Price Performance

PSTG opened at $61.03 on Monday. Everpure, Inc. has a one year low of $34.51 and a one year high of $100.59. The firm has a market capitalization of $20.15 billion, a P/E ratio of 110.97, a price-to-earnings-growth ratio of 4.56 and a beta of 1.29. The company has a fifty day moving average price of $69.81 and a 200-day moving average price of $77.90.

Everpure (NYSE:PSTG) last posted its earnings results on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. On average, analysts expect that Everpure, Inc. will post 0.44 earnings per share for the current year.

Insider Activity

In other news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

PSTG has been the topic of a number of recent research reports. Lake Street Capital upped their price target on shares of Everpure from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. Citigroup lowered their target price on shares of Everpure from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. UBS Group increased their target price on Everpure from $60.00 to $63.00 and gave the stock a “sell” rating in a research report on Thursday, February 26th. Wedbush reiterated an “outperform” rating and issued a $100.00 price target on shares of Everpure in a research report on Monday, February 23rd. Finally, Morgan Stanley set a $83.00 price objective on Everpure in a research note on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $94.32.

About Everpure

Everpure, Inc (NYSE: PSTG), formerly known as Pure Storage, Inc, is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays engineered to deliver high performance, low latency, and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics, and large-scale file and object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.