40,325 Everpure, Inc. $P Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing cut its Everpure stake by 44.6% in the third quarter, selling 40,325 shares and retaining 50,012 shares valued at approximately $6.54 million. Institutional investors collectively own 83.42% of the company.
• Everpure insiders sold 1.24 million shares worth approximately $142.3 million over the past three months, including sizable sales by directors Scott Dietzen and Andrew Brown.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $143.25. The company also reported quarterly earnings of $0.70 per share, well above the $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion.

Inspire Investing LLC lowered its position in Everpure, Inc. (NYSE:P - Free Report) by 44.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,012 shares of the company's stock after selling 40,325 shares during the period. Inspire Investing LLC's holdings in Everpure were worth $6,541,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY bought a new position in Everpure in the 2nd quarter valued at about $2,127,000. Nykredit A S bought a new stake in Everpure during the 2nd quarter worth approximately $9,412,000. Wellington Management Group LLP bought a new stake in Everpure during the 2nd quarter worth approximately $2,192,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Everpure in the second quarter worth approximately $814,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Everpure in the second quarter worth approximately $25,525,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Buying and Selling

In other Everpure news, Director Scott Dietzen sold 60,000 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $141.60, for a total transaction of $8,496,000.00. Following the completion of the transaction, the director directly owned 70,000 shares of the company's stock, valued at approximately $9,912,000. This represents a 46.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Brown sold 4,268 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $156.03, for a total value of $665,936.04. Following the transaction, the director directly owned 23,415 shares of the company's stock, valued at approximately $3,653,442.45. This trade represents a 15.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,235,091 shares of company stock worth $142,276,537 in the last three months. Insiders own 5.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on P shares. Weiss Ratings upgraded Everpure from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 14th. Bank of America raised Everpure from a "neutral" rating to a "buy" rating and upped their target price for the company from $90.00 to $150.00 in a report on Thursday, August 27th. JPMorgan Chase & Co. increased their price target on Everpure from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, August 27th. Zacks Research upgraded Everpure from a "hold" rating to a "strong-buy" rating in a report on Monday, October 19th. Finally, TD Cowen boosted their price objective on Everpure from $100.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Everpure has a consensus rating of "Moderate Buy" and an average price target of $143.25.

Everpure Price Performance

NYSE P opened at $123.33 on Friday. The stock has a market capitalization of $41.10 billion, a P/E ratio of 168.94, a PEG ratio of 4.04 and a beta of 1.39. Everpure, Inc. has a 52-week low of $56.78 and a 52-week high of $157.57. The stock's 50-day moving average is $117.36.

Everpure (NYSE:P - Get Free Report) last released its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The firm had revenue of $1.19 billion for the quarter. The company's revenue for the quarter was up 37.7% compared to the same quarter last year. On average, research analysts predict that Everpure, Inc. will post 0.95 earnings per share for the current fiscal 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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