Everpure (NYSE:P) Insider Sells 64,815 Shares of Stock

Key Points

• Insider John Colgrove sold 64,815 Everpure shares at an average price of $117.44, generating approximately $7.61 million. The transaction was made under a pre-arranged Rule 10b5-1 plan, and he retained 6.07 million shares.
• Everpure shares traded near their 52-week high at $117.03, while the company reported quarterly revenue growth of 35.2% and earnings of $0.47 per share, exceeding analyst expectations.
• Analysts maintain a “Moderate Buy” consensus with a $101.45 average price target, although the stock’s valuation remains elevated at roughly 177 times earnings.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 64,815 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $117.44, for a total transaction of $7,611,873.60. Following the completion of the transaction, the insider directly owned 6,074,080 shares in the company, valued at $713,339,955.20. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Thursday, August 13th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $117.21, for a total transaction of $11,721,000.00.
• On Tuesday, August 11th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $104.39, for a total transaction 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 transaction 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 transaction 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 transaction 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 value 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 value of $877,089.60.

Everpure Stock Performance

Shares of P stock traded down $1.13 during trading hours on Monday, reaching $117.03. 3,039,558 shares of the company's stock were exchanged, compared to its average volume of 3,298,572. The firm has a market cap of $38.90 billion, a P/E ratio of 177.32, a P/E/G ratio of 6.63 and a beta of 1.45. The business's 50 day simple moving average is $78.64. Everpure, Inc. has a 1 year low of $54.37 and a 1 year high of $118.81.

Everpure (NYSE:P - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $997.88 million. During the same period last year, the firm earned $0.29 EPS. The company's quarterly revenue was up 35.2% compared to the same quarter last year. Sell-side analysts forecast that Everpure, Inc. will post 0.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zacks Research lowered shares of Everpure from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Northland Securities set a $90.00 price target on shares of Everpure in a report on Thursday, May 28th. UBS Group raised their price objective on shares of Everpure from $63.00 to $70.00 and gave the company a "sell" rating in a research note on Thursday, May 28th. Morgan Stanley raised shares of Everpure from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $87.00 to $108.00 in a report on Monday, August 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Everpure in a research report on Friday, July 17th. Sixteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.45.

Institutional Investors Weigh In On Everpure

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Everpure by 0.8% in the fourth quarter. State Street Corp now owns 10,953,501 shares of the company's stock valued at $733,994,000 after acquiring an additional 88,583 shares in the last quarter. Geode Capital Management LLC increased its position in Everpure by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company's stock worth $515,972,000 after purchasing an additional 207,317 shares in the last quarter. Norges Bank purchased a new stake in Everpure during the 4th quarter worth about $265,327,000. Atreides Management LP acquired a new position in Everpure in the 2nd quarter valued at about $204,552,000. Finally, AQR Capital Management LLC raised its stake in Everpure by 62.7% in 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 during the last quarter. Hedge funds and other 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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