Erste Asset Management GmbH Reduces Stock Position in Everpure, Inc. $P

Erste Asset Management GmbH reduced its holdings in shares of Everpure, Inc. (NYSE:P) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 420,247 shares of the company’s stock after selling 62,553 shares during the quarter. Erste Asset Management GmbH’s holdings in Everpure were worth $28,211,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Westfield Capital Management Co. LP lifted its stake in shares of Everpure by 69.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company’s stock valued at $146,798,000 after buying an additional 717,834 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Everpure by 96.3% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the company’s stock valued at $2,612,000 after buying an additional 15,286 shares in the last quarter. AlTi Global Inc. purchased a new stake in shares of Everpure during the 3rd quarter valued at approximately $2,517,000. ARK Investment Management LLC lifted its stake in shares of Everpure by 12.6% during the 3rd quarter. ARK Investment Management LLC now owns 347,093 shares of the company’s stock valued at $29,090,000 after buying an additional 38,768 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Everpure by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,572,719 shares of the company’s stock valued at $202,563,000 after buying an additional 50,566 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Everpure from $84.00 to $87.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Lake Street Capital upped their target price on shares of Everpure from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Piper Sandler reaffirmed an “overweight” rating on shares of Everpure in a report on Thursday, May 28th. Guggenheim upped their target price on shares of Everpure from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Barclays upped their target price on shares of Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.32.

Insider Activity at Everpure

In other news, insider John Colgrove sold 200,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $85.93, for a total value of $17,186,000.00. Following the transaction, the insider owned 6,625,221 shares of the company’s stock, valued at $569,305,240.53. This represents a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 544,545 shares of company stock valued at $42,198,324. 5.10% of the stock is owned by corporate insiders.

Everpure Stock Performance

Everpure stock opened at $72.19 on Monday. The company has a market cap of $23.86 billion, a P/E ratio of 109.39, a PEG ratio of 5.12 and a beta of 1.44. Everpure, Inc. has a 1-year low of $50.20 and a 1-year high of $100.59.

Everpure (NYSE:P) last posted its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. Everpure’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 EPS. Research analysts expect that Everpure, Inc. will post 0.73 EPS for the current year.

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.