27,000 Shares in Everpure, Inc. $P Bought by Paradigm Capital Management Inc. NY

Key Points

• Paradigm Capital Management bought 27,000 shares of Everpure, valued at approximately $2.13 million. Institutional investors collectively own 83.42% of the company.
• Insiders sold 827,800 shares worth about $78.2 million over the past 90 days, including John Colgrove’s sale of 200,000 shares for $19.4 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $108.30. Everpure recently exceeded quarterly earnings and revenue estimates, reporting $0.47 EPS and $1.05 billion in revenue.

Paradigm Capital Management Inc. NY bought a new stake in Everpure, Inc. (NYSE:P - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,000 shares of the company's stock, valued at approximately $2,127,000.

A number of other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. boosted 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 in the last quarter. Cornerstone Planning Group LLC grew its stake in Everpure by 2,884.6% during the fourth quarter. Cornerstone Planning Group LLC now owns 388 shares of the company's stock worth $29,000 after purchasing an additional 375 shares during the period. Banque Transatlantique SA bought a new stake in Everpure in the third quarter worth approximately $29,000. Reflection Asset Management bought a new stake in Everpure in the fourth quarter worth approximately $32,000. Finally, Greenline Wealth Management LLC bought a new stake in Everpure in the fourth quarter worth approximately $32,000. Institutional investors own 83.42% of the company's stock.

Insider Buying and Selling

In other news, insider John Colgrove sold 200,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $96.98, for a total value of $19,396,000.00. Following the completion of the transaction, the insider directly owned 6,474,080 shares of the company's stock, valued at $627,856,278.40. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ajay Singh sold 9,787 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total value of $764,560.44. Following the sale, the insider directly owned 340,939 shares of the company's stock, valued at $26,634,154.68. The trade was a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 827,800 shares of company stock worth $78,153,882 in the last 90 days. Company insiders own 5.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on P shares. Wells Fargo & Company increased their price target on Everpure from $90.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. TD Cowen lifted their price objective on shares of Everpure from $100.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Lake Street Capital boosted their target price on shares of Everpure from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. UBS Group increased their target price on shares of Everpure from $63.00 to $70.00 and gave the stock a "sell" rating in a research note on Thursday, May 28th. Finally, DA Davidson set a $100.00 price target on shares of Everpure in a report on Wednesday, July 1st. Sixteen equities 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.30.

Everpure Price Performance

P opened at $100.47 on Tuesday. Everpure, Inc. has a fifty-two week low of $56.78 and a fifty-two week high of $119.10. The company has a market capitalization of $33.40 billion, a price-to-earnings ratio of 152.23, a P/E/G ratio of 6.04 and a beta of 1.45. The firm's 50-day moving average price is $83.42.

Everpure (NYSE:P - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The firm's quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. As a group, analysts predict that Everpure, Inc. will post 0.93 earnings per share 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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