Arrowstreet Capital Limited Partnership Sells 32,883 Shares of Everpure, Inc. $P

Key Points

• Arrowstreet Capital trimmed its Everpure stake by 0.8% in the fourth quarter, selling 32,883 shares and ending with 3,994,727 shares worth about $267.7 million.
• Everpure’s latest quarter beat expectations, with EPS of $0.47 versus $0.40 estimated and revenue of $1.05 billion topping forecasts; revenue also rose 35.2% year over year.
• Analyst sentiment remains positive overall, with 13 buy ratings and a consensus “Moderate Buy” rating, along with an average price target of $96.32.

Arrowstreet Capital Limited Partnership decreased its stake in shares of Everpure, Inc. (NYSE:P - Free Report) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,994,727 shares of the company's stock after selling 32,883 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.21% of Everpure worth $267,687,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Westfield Capital Management Co. LP increased its holdings in Everpure by 69.4% during the third quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company's stock worth $146,798,000 after buying an additional 717,834 shares during the last quarter. ARK Investment Management LLC boosted its holdings 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 worth $29,090,000 after buying an additional 38,768 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Everpure by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,572,719 shares of the company's stock worth $202,563,000 after buying an additional 50,566 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Everpure by 12.9% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 307,221 shares of the company's stock valued at $25,748,000 after acquiring an additional 35,182 shares in the last quarter. Finally, Erste Asset Management GmbH grew its stake in shares of Everpure by 38.9% in the third quarter. Erste Asset Management GmbH now owns 482,800 shares of the company's stock valued at $40,029,000 after acquiring an additional 135,300 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Lake Street Capital upped their price target on shares of Everpure from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Everpure in a research note on Thursday, May 28th. Barclays lifted their target price on shares of Everpure from $81.00 to $84.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 28th. Morgan Stanley lifted their target price on shares of Everpure from $84.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 28th. Finally, Northland Securities set a $90.00 price target on shares of Everpure in a research report on Thursday, May 28th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.32.

Everpure Stock Up 0.1%

NYSE:P opened at $72.40 on Monday. Everpure, Inc. has a 12 month low of $50.20 and a 12 month high of $100.59. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 109.70, a P/E/G ratio of 4.09 and a beta of 1.44.

Everpure (NYSE:P - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $997.88 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business's revenue was up 35.2% on a year-over-year basis. As a group, research analysts anticipate that Everpure, Inc. will post 0.92 EPS for the current year.

Insider Activity

In other news, insider John Colgrove sold 99,900 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $71.04, for a total value of $7,096,896.00. Following the completion of the sale, the insider owned 2,615,000 shares in the company, valued at $185,769,600. This represents a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 644,545 shares of company stock valued at $49,302,220. Corporate insiders own 5.10% of the company's stock.

Everpure Profile

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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