Everpure (NYSE:P) Insider John Colgrove Sells 29,108 Shares

Key Points

• Insider John Colgrove sold 29,108 Everpure shares on May 7 at an average price of $75.31 for about $2.19 million, executed under a pre-arranged Rule 10b5-1 trading plan and reducing his holdings to 467,694 shares (a 5.86% ownership drop).
• Colgrove has been selling repeatedly between April 21 and May 7, disposing of roughly 334,265 shares for approximately $24.1 million in total proceeds according to SEC filings.
• Everpure shares were up 1.9% to $75.85 midday, the company has a market cap of $25.07 billion, and analysts’ consensus is a Moderate Buy with an average target of $93.21.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 29,108 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $75.31, for a total value of $2,192,123.48. Following the sale, the insider owned 467,694 shares in the company, valued at approximately $35,222,035.14. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Colgrove also recently made the following trade(s):

• On Wednesday, May 6th, John Colgrove sold 27,578 shares of Everpure stock. The shares were sold at an average price of $75.01, for a total value of $2,068,625.78.
• On Tuesday, May 5th, John Colgrove sold 77,579 shares of Everpure stock. The shares were sold at an average price of $75.12, for a total value of $5,827,734.48.
• On Friday, April 24th, John Colgrove sold 28,935 shares of Everpure stock. The shares were sold at an average price of $70.01, for a total value of $2,025,739.35.
• On Thursday, April 23rd, John Colgrove sold 71,959 shares of Everpure stock. The shares were sold at an average price of $70.06, for a total value of $5,041,447.54.
• On Wednesday, April 22nd, John Colgrove sold 82,266 shares of Everpure stock. The shares were sold at an average price of $70.50, for a total value of $5,799,753.00.
• On Tuesday, April 21st, John Colgrove sold 16,840 shares of Everpure stock. The shares were sold at an average price of $70.06, for a total value of $1,179,810.40.

Everpure Stock Up 1.9%

Shares of P traded up $1.42 during midday trading on Thursday, hitting $75.85. 3,170,207 shares of the company traded hands, compared to its average volume of 3,207,017. Everpure, Inc. has a one year low of $47.64 and a one year high of $100.59. The stock has a market cap of $25.07 billion, a PE ratio of 137.91, a P/E/G ratio of 5.57 and a beta of 1.44.

Everpure (NYSE:P - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The company's revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. Analysts expect that Everpure, Inc. will post 0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on P shares. JPMorgan Chase & Co. decreased their price objective on shares of Everpure from $105.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, April 16th. UBS Group upped their price objective on shares of Everpure from $60.00 to $63.00 and gave the stock a "sell" rating in a research report on Thursday, February 26th. Wedbush restated an "outperform" rating and issued a $100.00 price objective on shares of Everpure in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Everpure from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Everpure from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Thursday, February 26th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $93.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Winnow Wealth LLC purchased a new stake in shares of Everpure during the third quarter valued at approximately $26,000. Provenance Wealth Advisors LLC purchased a new stake in shares of Everpure during the third quarter valued at approximately $27,000. Sunbelt Securities Inc. boosted its stake in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock valued at $28,000 after purchasing an additional 244 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Everpure during the third quarter valued at approximately $28,000. Finally, Assetmark Inc. boosted its stake in shares of Everpure by 186.6% during the third quarter. Assetmark Inc. now owns 341 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the period. 83.42% of the stock is currently owned by institutional investors.

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.

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