Everpure Target of Unusually Large Options Trading (NYSE:P)

Key Points

• Everpure saw unusually heavy options activity on Monday, with 12,762 call options traded, about 70% above its typical daily volume.
• Analyst sentiment remains mostly positive, with 13 Buy ratings, five Holds, and one Sell; the stock’s consensus rating is Moderate Buy with an average price target of $93.21.
• The stock jumped 15.3% to $90.11 amid above-average trading volume, while recent earnings also showed strength with EPS and revenue both beating estimates.

Everpure, Inc. (NYSE:P - Get Free Report) saw unusually large options trading on Monday. Stock investors acquired 12,762 call options on the stock. This is an increase of 70% compared to the typical daily volume of 7,525 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Piper Sandler reissued a "buy" rating on shares of Everpure in a report on Thursday, February 26th. UBS Group boosted their target price on Everpure from $60.00 to $63.00 and gave the stock a "sell" rating in a report on Thursday, February 26th. Citigroup dropped their target price on Everpure from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. Northland Securities raised Everpure from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $77.00 to $81.00 in a report on Monday, March 9th. Finally, Wells Fargo & Company dropped their target price on Everpure from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.21.

Insiders Place Their Bets

In related news, insider John Colgrove sold 29,108 shares of the company's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $75.31, for a total value of $2,192,123.48. Following the sale, the insider directly owned 467,694 shares of the company's stock, valued at $35,222,035.14. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 334,265 shares of company stock valued at $24,135,234 over the last 90 days. 5.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Westfield Capital Management Co. LP lifted its holdings in shares of Everpure by 69.4% during the third quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company's stock valued at $146,798,000 after purchasing an additional 717,834 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Everpure by 96.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the company's stock worth $2,612,000 after purchasing an additional 15,286 shares during the last quarter. AlTi Global Inc. purchased a new position in Everpure in the third quarter worth about $2,517,000. ARK Investment Management LLC grew its stake in shares of Everpure by 12.6% during the 3rd quarter. ARK Investment Management LLC now owns 347,093 shares of the company's stock valued at $29,090,000 after purchasing an additional 38,768 shares during the period. Finally, RBA Wealth Management LLC purchased a new stake in shares of Everpure during the 3rd quarter valued at about $5,964,000. 83.42% of the stock is owned by institutional investors.

Everpure Trading Up 15.3%

Everpure stock traded up $11.95 during mid-day trading on Monday, hitting $90.11. The company had a trading volume of 4,185,906 shares, compared to its average volume of 3,208,000. Everpure has a 12 month low of $50.20 and a 12 month high of $100.59. The company has a market capitalization of $29.78 billion, a price-to-earnings ratio of 163.46, a price-to-earnings-growth ratio of 5.83 and a beta of 1.44.

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, beating analysts' consensus estimates of $0.65 by $0.04. The firm 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 company's quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. On average, equities research analysts predict that Everpure will post 0.72 EPS for the current year.

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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