Assenagon Asset Management S.A. Cuts Stake in Everpure, Inc. $P

Key Points

• Assenagon Asset Management cut its Everpure stake by 26.9% in the first quarter, leaving it with 90,150 shares valued at about $5.32 million.
• Several Everpure insiders sold shares recently, including Director Mallun Yen and insider John Colgrove; insiders have sold 654,015 shares worth about $50.0 million over the last three months.
• Everpure reported better-than-expected quarterly results, with EPS of $0.47 versus $0.40 expected and revenue up 35.2% year over year, while analysts maintain a Moderate Buy consensus with a $96.32 price target.

Assenagon Asset Management S.A. decreased its stake in Everpure, Inc. (NYSE:P - Free Report) by 26.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,150 shares of the company's stock after selling 33,187 shares during the period. Assenagon Asset Management S.A.'s holdings in Everpure were worth $5,322,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Salomon & Ludwin LLC increased its position in shares of Everpure by 108.2% during the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the company's stock worth $27,000 after acquiring an additional 199 shares during the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Everpure in the third quarter valued at about $28,000. Sunbelt Securities Inc. boosted its holdings in Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in Everpure by 2,884.6% during the 4th quarter. Cornerstone Planning Group LLC now owns 388 shares of the company's stock valued at $29,000 after purchasing an additional 375 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Everpure during the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Transactions at Everpure

In related news, Director Mallun Yen sold 4,735 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $76.90, for a total value of $364,121.50. Following the completion of the transaction, the director owned 43,281 shares in the company, valued at $3,328,308.90. This trade represents a 9.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 99,900 shares of Everpure stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $71.04, for a total transaction of $7,096,896.00. Following the completion of the transaction, the insider directly owned 2,615,000 shares in the company, valued at approximately $185,769,600. This trade represents a 3.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 654,015 shares of company stock valued at $50,009,960 in the last three months. 5.10% of the stock is currently owned by corporate insiders.

Everpure Stock Performance

Shares of NYSE:P opened at $72.32 on Tuesday. The company has a market cap of $24.04 billion, a P/E ratio of 109.58, a PEG ratio of 3.93 and a beta of 1.44. The firm has a 50-day moving average price of $76.35. Everpure, Inc. has a fifty-two week low of $53.43 and a fifty-two week high of $100.59.

Everpure (NYSE:P - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $997.88 million. During the same period last year, the firm earned $0.29 EPS. The firm's revenue was up 35.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Everpure, Inc. will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

P has been the topic of several recent analyst reports. Northland Securities set a $90.00 price target on shares of Everpure in a report on Thursday, May 28th. Piper Sandler reissued an "overweight" rating on shares of Everpure in a report on Thursday, May 28th. Barclays boosted 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. Weiss Ratings assumed coverage on shares of Everpure in a research note on Monday, April 20th. They issued a "hold (c)" rating on the stock. Finally, UBS Group increased their price target on shares of Everpure from $63.00 to $70.00 and gave the stock a "sell" rating in a research report on Thursday, May 28th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Everpure has an average rating of "Moderate Buy" and a consensus price target of $96.32.

Everpure Company 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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