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

Key Points

• John Colgrove sold 100,000 Everpure shares at an average price of $104.39, generating $10.44 million. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 6.27 million shares.
• Colgrove has made several additional sales in recent months, including 200,000 shares on August 10 and 35,185 shares on August 7, reflecting substantial cumulative insider selling.
• Everpure shares recently traded at $117.29, near their 12-month high, while the company reported better-than-expected quarterly earnings and revenue growth. Analysts maintain a “Moderate Buy” consensus with an average price target of $101.45.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $104.39, for a total value of $10,439,000.00. Following the completion of the transaction, the insider owned 6,274,080 shares in the company, valued at $654,951,211.20. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 10th, John Colgrove sold 200,000 shares of Everpure stock. The stock was 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 transaction 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 transaction of $7,096,896.00.
• On Wednesday, June 10th, John Colgrove sold 100 shares of Everpure stock. The shares were sold at an average price of $70.00, for a total transaction of $7,000.00.
• On Tuesday, June 2nd, John Colgrove sold 10,280 shares of Everpure stock. The stock was sold at an average price of $85.32, for a total transaction of $877,089.60.

Everpure Stock Performance

Shares of P traded up $5.89 during trading on Thursday, reaching $117.29. 4,049,458 shares of the company traded hands, compared to its average volume of 3,298,622. The business's 50-day moving average is $76.94. The firm has a market cap of $38.99 billion, a PE ratio of 177.71, a PEG ratio of 6.19 and a beta of 1.45. Everpure, Inc. has a twelve month low of $54.37 and a twelve month high of $118.81.

Everpure (NYSE:P - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The business's revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. Sell-side analysts predict that Everpure, Inc. will post 0.92 EPS for the current fiscal year.

Institutional Trading of Everpure

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

Analysts Set New Price Targets

Several research firms have recently commented on P. UBS Group raised their price target on Everpure from $63.00 to $70.00 and gave the stock a "sell" rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. boosted 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. DA Davidson set a $100.00 target price on Everpure in a research note on Wednesday, July 1st. Wedbush raised their target price on Everpure from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Finally, Zacks Research downgraded Everpure from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Sixteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.45.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source