Everpure (NYSE:P) Stock Price Down 8.1% – Should You Sell?

Everpure, Inc. (NYSE:P) traded down 8.1% on Tuesday . The company traded as low as $81.22 and last traded at $80.2760. 707,729 shares changed hands during trading, a decline of 78% from the average session volume of 3,264,309 shares. The stock had previously closed at $87.34.

More Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure’s Portworx unit announced new Red Hat OpenShift capabilities, including a more native Kubernetes experience and upgraded data storage, backup, and disaster recovery tools. The update could strengthen Everpure’s position in AI infrastructure and cloud-native data management, which is helping support bullish sentiment. Article Title
• Positive Sentiment: The stock saw unusually heavy call option activity and strong trading volume, indicating traders are positioning for continued upside and heightened near-term volatility.
• Positive Sentiment: Articles citing Everpure’s recent rally note that the stock has been benefiting from renewed investor interest ahead of its earnings test and from enthusiasm around its AI-related product efforts. Article Title
• Neutral Sentiment: Some investors are questioning whether the shares have already priced in a lot of optimism after a strong one-year run, which suggests valuation could become a bigger focus going forward. Article Title
• Negative Sentiment: Recent coverage also warns that earnings estimate revisions have turned less favorable, which could limit further upside if the company does not deliver another strong quarterly report. Article Title

Wall Street Analysts Forecast Growth

A number of research firms recently commented on P. Wedbush reiterated an “outperform” rating and set a $100.00 price objective on shares of Everpure in a research note on Monday, February 23rd. Wall Street Zen raised Everpure from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings started coverage on shares of Everpure in a report on Monday, April 20th. They issued a “hold (c)” rating for the company. Citigroup reduced their price objective on shares of Everpure from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Piper Sandler reiterated a “buy” rating on shares of Everpure in a report on Thursday, February 26th. Thirteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.21.

Everpure Stock Down 7.8%

The stock has a market cap of $26.60 billion, a price-to-earnings ratio of 146.13, a price-to-earnings-growth ratio of 5.83 and a beta of 1.44.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts expect that Everpure, Inc. will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In related news, insider John Colgrove sold 82,266 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $70.50, for a total value of $5,799,753.00. Following the completion of the transaction, the insider owned 66,927 shares of the company’s stock, valued at approximately $4,718,353.50. This trade represents a 55.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 334,265 shares of company stock valued at $24,135,234. Company insiders own 5.10% of the company’s stock.

Institutional Trading of Everpure

Several hedge funds and other institutional investors have recently modified their holdings of P. Vanguard Group Inc. grew its holdings in shares of Everpure by 1.9% during the third quarter. Vanguard Group Inc. now owns 33,891,025 shares of the company’s stock valued at $2,840,407,000 after buying an additional 623,019 shares in the last quarter. State Street Corp lifted its stake in Everpure by 0.8% in the 4th quarter. State Street Corp now owns 10,953,501 shares of the company’s stock worth $733,994,000 after acquiring an additional 88,583 shares in the last quarter. Geode Capital Management LLC boosted its position in Everpure by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock worth $515,972,000 after acquiring an additional 207,317 shares during the period. Atreides Management LP grew its stake in Everpure by 15.4% during the 3rd quarter. Atreides Management LP now owns 4,098,376 shares of the company’s stock valued at $343,485,000 after acquiring an additional 545,890 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Everpure by 786.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company’s stock valued at $337,554,000 after acquiring an additional 3,573,493 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Company 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.