Norges Bank Purchases Shares of 3,959,514 Everpure, Inc. $P

Norges Bank purchased a new stake in shares of Everpure, Inc. (NYSE:P) in the 4th quarter, Holdings Channel reports. The fund purchased 3,959,514 shares of the company’s stock, valued at approximately $265,327,000.

A number of other hedge funds also recently modified their holdings of P. Integrated Wealth Concepts LLC acquired a new stake in shares of Everpure during the 1st quarter worth about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Everpure by 129.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company’s stock valued at $387,000 after buying an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Everpure by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company’s stock valued at $50,377,000 after buying an additional 595,307 shares in the last quarter. Empowered Funds LLC grew its holdings in Everpure by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock valued at $212,000 after buying an additional 194 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Everpure by 261.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company’s stock valued at $184,000 after buying an additional 2,316 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Trading Down 1.9%

P opened at $82.86 on Wednesday. The firm has a market cap of $27.38 billion, a PE ratio of 125.54, a P/E/G ratio of 5.99 and a beta of 1.44. Everpure, Inc. has a 52-week low of $50.20 and a 52-week high of $100.59.

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

Insider Activity

In other news, insider John Colgrove sold 200,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the sale, the insider directly owned 6,625,221 shares of the company’s stock, valued at approximately $569,305,240.53. This represents a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 534,265 shares of company stock worth $41,321,234. Corporate insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on P shares. Wall Street Zen raised Everpure from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings started coverage on Everpure in a report on Monday, April 20th. They issued a “hold (c)” rating on the stock. JPMorgan Chase & Co. upped their price objective on Everpure from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Wells Fargo & Company upped their price objective on Everpure from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Finally, Wedbush upped their price objective on Everpure from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Everpure has an average rating of “Moderate Buy” and an average price target of $96.32.

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.