Everpure (NYSE:P) Insider Sells 100,000 Shares

Key Points

• Insider John Colgrove sold 100,000 Everpure shares at an average price of $117.21, generating $11.72 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with approximately 6.07 million shares.
• Colgrove has reported multiple additional sales in recent months, including 64,815 shares on August 14 and 200,000 shares on August 10, totaling millions of dollars in proceeds.
• Everpure shares traded near their 52-week high at $117.03, while the company’s latest earnings beat expectations and revenue rose 35.2% year over year. Analysts maintain a “Moderate Buy” consensus, though the average price target of $101.45 is below the current share price.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 100,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $117.21, for a total transaction of $11,721,000.00. Following the transaction, the insider owned 6,074,080 shares in the company, valued at approximately $711,942,916.80. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Friday, August 14th, John Colgrove sold 64,815 shares of Everpure stock. The stock was sold at an average price of $117.44, for a total value of $7,611,873.60.
• On Tuesday, August 11th, John Colgrove sold 100,000 shares of Everpure stock. The shares were sold at an average price of $104.39, for a total value of $10,439,000.00.
• On Monday, August 10th, John Colgrove sold 200,000 shares of Everpure stock. The shares were sold at an average price of $96.98, for a total value of $19,396,000.00.
• On Friday, August 7th, John Colgrove sold 35,185 shares of Everpure stock. The stock was sold at an average price of $90.01, for a total value of $3,167,001.85.
• On Tuesday, August 4th, John Colgrove sold 89,720 shares of Everpure stock. The stock was sold at an average price of $85.66, for a total value of $7,685,415.20.
• On Friday, July 10th, John Colgrove sold 100,000 shares of Everpure stock. The shares were sold at an average price of $79.82, for a total value of $7,982,000.00.
• On Friday, June 12th, John Colgrove sold 99,900 shares of Everpure stock. The shares were sold at an average price of $71.04, for a total value of $7,096,896.00.
• On Wednesday, June 10th, John Colgrove sold 100 shares of Everpure stock. The stock was sold at an average price of $70.00, for a total value of $7,000.00.
• On Tuesday, June 2nd, John Colgrove sold 10,280 shares of Everpure stock. The shares were sold at an average price of $85.32, for a total transaction of $877,089.60.

Everpure Stock Performance

Shares of Everpure stock traded down $1.13 during midday trading on Monday, reaching $117.03. 3,039,558 shares of the company's stock traded hands, compared to its average volume of 3,298,572. Everpure, Inc. has a 52 week low of $54.37 and a 52 week high of $118.81. The firm has a 50 day moving average of $78.64. The stock has a market capitalization of $38.90 billion, a P/E ratio of 177.32, a price-to-earnings-growth ratio of 6.63 and a beta of 1.45.

Everpure (NYSE:P - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.07. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $997.88 million. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The company's revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. As a group, research analysts expect that Everpure, Inc. will post 0.93 EPS for the current year.

Analyst Upgrades and Downgrades

P has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price target on shares of Everpure in a research report on Thursday, May 28th. Zacks Research downgraded shares of Everpure from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Wall Street Zen lowered shares of Everpure from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Everpure in a research report on Friday, July 17th. Finally, UBS Group lifted their price target on shares of Everpure from $63.00 to $70.00 and gave the company a "sell" rating in a report on Thursday, May 28th. Sixteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $101.45.

Institutional Trading of Everpure

Large investors have recently made changes to their positions in the business. Paradigm Capital Management Inc. NY acquired a new stake in shares of Everpure in the second quarter valued at $2,127,000. Summit Creek Advisors LLC acquired a new position in Everpure during the 2nd quarter worth about $5,671,000. S&CO Inc. bought a new stake in Everpure during the 2nd quarter worth about $15,003,000. Bigelow Investment Advisors LLC bought a new stake in Everpure during the 1st quarter worth about $231,000. Finally, Janney Montgomery Scott LLC increased its position in Everpure by 46.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,138 shares of the company's stock valued at $1,661,000 after acquiring an additional 8,861 shares in the last quarter. Institutional investors own 83.42% of the company's stock.

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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