Everpure, Inc. $P Stock Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in Everpure, Inc. (NYSE:P) by 31.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,000 shares of the company’s stock after selling 8,525 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Everpure were worth $2,485,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of P. Pictet Asset Management Holding SA lifted its holdings in Everpure by 24.9% in the third quarter. Pictet Asset Management Holding SA now owns 175,809 shares of the company’s stock valued at $22,992,000 after acquiring an additional 35,079 shares during the last quarter. Parallel Advisors LLC increased its stake in Everpure by 14.6% during the third quarter. Parallel Advisors LLC now owns 8,068 shares of the company’s stock worth $1,055,000 after acquiring an additional 1,030 shares during the last quarter. CenterBook Partners LP acquired a new stake in Everpure during the third quarter worth $1,475,000. Heritage Family Offices LLP acquired a new stake in Everpure during the third quarter worth $140,000. Finally, Calamos Advisors LLC raised its position in Everpure by 180.8% in the third quarter. Calamos Advisors LLC now owns 26,868 shares of the company’s stock valued at $3,514,000 after purchasing an additional 17,299 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analyst Weigh In

P has been the topic of several recent analyst reports. Citigroup upped their price target on Everpure from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Piper Sandler raised their price objective on Everpure from $133.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of Everpure in a report on Thursday, September 24th. Cantor Fitzgerald restated a “neutral” rating on shares of Everpure in a report on Monday, October 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Everpure from $145.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.65.

Insiders Place Their Bets

In related news, Director Scott Dietzen sold 60,000 shares of the stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $141.60, for a total transaction of $8,496,000.00. Following the transaction, the director owned 70,000 shares of the company’s stock, valued at approximately $9,912,000. This represents a 46.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $145.00, for a total value of $14,500,000.00. Following the transaction, the insider owned 5,393,309 shares of the company’s stock, valued at $782,029,805. This trade represents a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 810,186 shares of company stock valued at $101,589,120. Insiders own 5.10% of the company’s stock.

Everpure Price Performance

Everpure stock opened at $102.73 on Tuesday. Everpure, Inc. has a fifty-two week low of $56.78 and a fifty-two week high of $157.57. The firm has a 50 day moving average of $120.17. The firm has a market cap of $34.23 billion, a P/E ratio of 140.73, a PEG ratio of 3.73 and a beta of 1.43.

Everpure (NYSE:P) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The company had revenue of $1.19 billion for the quarter. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. As a group, research analysts predict that Everpure, Inc. will post 0.95 earnings per share for the current year.

Everpure Profile

Everpure, formerly known as Pure Storage, provides data storage and management technology for businesses and other organizations. Its offerings are designed to support applications, databases, analytics, cloud environments and other data-intensive workloads.

The company’s portfolio includes FlashArray systems for block and file storage, FlashBlade systems for unstructured data and high-performance workloads, and Pure1 software for monitoring and managing storage environments. Everpure also offers subscription-based services, including its Evergreen storage model.

Founded as Pure Storage in 2009, the company serves customers internationally.