448,999 Everpure, Inc. $P Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Everpure stake by 448,999 shares in the third quarter, a 15,793.1% rise, bringing its holdings to 451,842 shares valued at about $60.6 million.
• Other institutions also expanded their positions, and institutional investors and hedge funds collectively owned 83.42% of Everpure.
• Everpure reported quarterly EPS of $0.70, beating the $0.19 consensus, while revenue rose 37.7% year over year to $1.19 billion. Analysts’ consensus rating was “Moderate Buy,” with a $148.65 average price target.

Allspring Global Investments Holdings LLC lifted its position in Everpure, Inc. (NYSE:P - Free Report) by 15,793.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 451,842 shares of the company's stock after buying an additional 448,999 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.14% of Everpure worth $60,606,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in P. Assenagon Asset Management S.A. raised its stake in Everpure by 504.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company's stock worth $130,003,000 after acquiring an additional 829,476 shares during the last quarter. JANA Partners Management LP purchased a new position in Everpure during the second quarter worth approximately $77,939,000. Artemis Investment Management LLP lifted its position in shares of Everpure by 100.1% during the 3rd quarter. Artemis Investment Management LLP now owns 775,776 shares of the company's stock valued at $101,456,000 after buying an additional 388,066 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Everpure in the second quarter valued at about $25,525,000. Finally, Engineers Gate Manager LP acquired a new stake in Everpure in the 2nd quarter worth about $25,859,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Everpure Trading Down 1.0%

P stock opened at $101.77 on Wednesday. Everpure, Inc. has a twelve month low of $56.78 and a twelve month high of $157.57. The firm has a market capitalization of $33.91 billion, a PE ratio of 126.96, a P/E/G ratio of 3.43 and a beta of 1.43. The business's 50 day moving average is $120.34.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on P. TD Cowen upped their target price on shares of Everpure from $100.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Guggenheim lifted their target price on Everpure from $150.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Needham & Company LLC upped their price objective on shares of Everpure from $150.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, October 8th. Wedbush reissued an "outperform" rating and set a $130.00 target price on shares of Everpure in a research note on Thursday, September 24th. Finally, Morgan Stanley raised their price target on shares of Everpure from $119.00 to $137.00 and gave the company an "overweight" rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $148.65.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 18,267 shares of the stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $155.24, for a total transaction of $2,835,769.08. Following the completion of the sale, the insider owned 270,095 shares in the company, valued at approximately $41,929,547.80. This represents a 6.33% decrease in their ownership of the stock. The sale was disclosed in a filing 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 that occurred on Thursday, October 8th. The stock was sold at an average price of $156.03, for a total value of $665,936.04. Following the sale, the director directly owned 23,415 shares of the company's stock, valued at $3,653,442.45. The trade was a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 810,186 shares of company stock valued at $101,589,120. 5.10% of the stock is owned by insiders.

Everpure Company Profile

Everpure, formerly known as Pure Storage, provides data storage and management technology for businesses and other organizations. Its offerings are designed to support applications, databases, analytics, cloud environments and other data-intensive workloads. The company's portfolio includes FlashArray systems for block and file storage, FlashBlade systems for unstructured data and high-performance workloads, and Pure1 software for monitoring and managing storage environments. Everpure also offers subscription-based services, including its Evergreen storage model.

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