Everpure (NYSE:P) Insider John Colgrove Sells 77,579 Shares

Key Points

• Insider John Colgrove sold 77,579 shares on May 5 at an average price of $75.12 for $5.83M, cutting his stake by 12.89% to 524,380 shares; the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• Across multiple transactions from April 21 to May 7 he sold roughly 334,265 shares, generating approximately $24.1M in proceeds.
• Everpure shares recently traded near $75.85 (up 1.9%), the company has a market cap of about $25.07B, and analysts' consensus is a "Moderate Buy" with an average price target of $93.21.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 77,579 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $75.12, for a total value of $5,827,734.48. Following the completion of the sale, the insider directly owned 524,380 shares in the company, valued at approximately $39,391,425.60. This trade represents a 12.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Thursday, May 7th, John Colgrove sold 29,108 shares of Everpure stock. The stock was sold at an average price of $75.31, for a total value of $2,192,123.48.
• On Wednesday, May 6th, John Colgrove sold 27,578 shares of Everpure stock. The stock was sold at an average price of $75.01, for a total value of $2,068,625.78.
• On Friday, April 24th, John Colgrove sold 28,935 shares of Everpure stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $70.06, for a total value of $1,179,810.40.

Everpure Trading Up 1.9%

Shares of NYSE P traded up $1.42 during mid-day trading on Thursday, hitting $75.85. The company had a trading volume of 3,170,207 shares, compared to its average volume of 3,207,017. The company has a market cap of $25.07 billion, a price-to-earnings ratio of 137.91, a price-to-earnings-growth ratio of 5.57 and a beta of 1.44. Everpure, Inc. has a 12 month low of $47.64 and a 12 month high of $100.59.

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

Hedge Funds Weigh In On Everpure

Hedge funds have recently modified their holdings of the company. Winnow Wealth LLC acquired a new position in shares of Everpure during the 3rd quarter valued at $26,000. Provenance Wealth Advisors LLC acquired a new position in shares of Everpure during the 3rd quarter valued at $27,000. Salomon & Ludwin LLC increased its position in shares of Everpure by 108.2% during the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company's stock valued at $27,000 after purchasing an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Everpure during the 3rd quarter valued at $28,000. Finally, Sunbelt Securities Inc. increased its position in shares of Everpure by 287.1% during the 3rd 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. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

P has been the topic of several recent analyst reports. Citigroup cut their target price on Everpure from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. Wall Street Zen raised Everpure from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Barclays lifted their target price on Everpure from $77.00 to $81.00 and gave the company an "equal weight" rating in a research note on Thursday, February 26th. Wedbush reaffirmed an "outperform" rating and set a $100.00 target price on shares of Everpure in a research note on Monday, February 23rd. Finally, Piper Sandler reaffirmed a "buy" rating on shares of Everpure in a research note on Thursday, February 26th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.21.

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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