Everpure, Inc. $P Stock: Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Everpure, Inc. (NYSE:P) by 28.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,652 shares of the company’s stock after purchasing an additional 12,694 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Everpure were worth $7,540,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of P. Grant Private Wealth Management Inc bought a new position in Everpure during the third quarter worth $231,000. SteelPeak Wealth LLC acquired a new position in Everpure in the third quarter valued at $267,000. IFP Advisors Inc boosted its position in Everpure by 1.1% during the third quarter. IFP Advisors Inc now owns 10,449 shares of the company’s stock valued at $1,367,000 after acquiring an additional 115 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in Everpure by 7.2% during the third quarter. Frank Rimerman Advisors LLC now owns 3,817 shares of the company’s stock valued at $499,000 after acquiring an additional 257 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in Everpure during the third quarter valued at $13,295,000. 83.42% of the stock is owned by institutional investors.

Everpure Trading Up 3.5%

Shares of P stock opened at $130.99 on Thursday. The firm has a market cap of $43.65 billion, a P/E ratio of 156.20, a price-to-earnings-growth ratio of 4.22 and a beta of 1.39. Everpure, Inc. has a 52 week low of $56.78 and a 52 week high of $157.57. The stock’s 50 day moving average is $117.19.

Everpure (NYSE:P) last released its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The company had revenue of $1.19 billion during the quarter. The company’s quarterly revenue was up 37.7% on a year-over-year basis. As a group, equities analysts expect that Everpure, Inc. will post 0.95 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on P shares. TD Cowen increased their price target on Everpure from $100.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Guggenheim lifted their price objective on Everpure from $150.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of Everpure in a research note on Thursday, September 24th. Citigroup boosted their price objective on Everpure from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Finally, DA Davidson set a $100.00 target price on Everpure in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.25.

Insiders Place Their Bets

In other Everpure news, CAO Mona Chu sold 5,112 shares of the firm’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $151.40, for a total value of $773,956.80. Following the completion of the sale, the chief accounting officer directly owned 125,982 shares in the company, valued at approximately $19,073,674.80. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Dietzen sold 60,000 shares of Everpure stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $141.60, for a total transaction of $8,496,000.00. Following the completion of the sale, the director directly owned 70,000 shares of the company’s stock, valued at approximately $9,912,000. This trade represents a 46.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,235,091 shares of company stock valued at $142,276,537. 5.10% of the stock is currently owned by corporate insiders.

Everpure 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.