Everpure (NYSE:P) Insider John Colgrove Sells 71,959 Shares

Key Points

• John Colgrove sold 71,959 shares of Everpure on April 23 at an average price of $70.06 for proceeds of $5.04M, cutting his stake by 71.32% to 28,935 shares; the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• Colgrove also sold 82,266 shares on April 22 and 16,840 shares on April 21, making the three-day insider dispositions total 171,065 shares worth about $12.02M.
• Everpure recently beat quarterly estimates (EPS $0.69 vs. $0.65; revenue $1.06B, up 20.4% YoY), trades around $69.99 with a market cap of $23.13B, and carries a consensus analyst rating of Moderate Buy with an average price target of $93.21.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 71,959 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $70.06, for a total value of $5,041,447.54. Following the completion of the sale, the insider owned 28,935 shares in the company, valued at $2,027,186.10. The trade was a 71.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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, 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 transaction 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 transaction of $1,179,810.40.

Everpure Stock Performance

Shares of NYSE:P traded up $0.63 during trading on Thursday, reaching $69.99. The stock had a trading volume of 2,607,278 shares, compared to its average volume of 3,334,796. Everpure, Inc. has a 52 week low of $43.08 and a 52 week high of $100.59. The firm has a market cap of $23.13 billion, a P/E ratio of 127.26, a P/E/G ratio of 5.16 and a beta of 1.34.

Everpure (NYSE:P - Get Free Report) 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm posted $0.45 EPS. The company's quarterly revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Everpure, Inc. will post 0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of Everpure from $77.00 to $81.00 and gave the stock an "equal weight" rating in a report on Thursday, February 26th. 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 report on Thursday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Everpure from $105.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Wedbush reiterated an "outperform" rating and set a $100.00 target price on shares of Everpure in a research note on Monday, February 23rd. Finally, Northland Securities upgraded shares of Everpure from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $77.00 to $81.00 in a research report on Monday, March 9th. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.21.

Institutional Trading of Everpure

Several large investors have recently modified their holdings of P. Norges Bank purchased a new position in Everpure during the 4th quarter valued at $265,327,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Everpure by 786.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company's stock worth $337,554,000 after purchasing an additional 3,573,493 shares during the period. Atreides Management LP purchased a new stake in shares of Everpure in the 2nd quarter worth about $204,552,000. Polar Capital Holdings Plc boosted its stake in shares of Everpure by 90.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company's stock valued at $237,278,000 after purchasing an additional 1,345,207 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Everpure by 62.7% during the 4th quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company's stock valued at $228,820,000 after purchasing an additional 1,315,351 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.