Bailard Inc. Decreases Position in Everpure, Inc. $P

Key Points

• Bailard Inc. reduced its stake in Everpure by 16.2% in the fourth quarter, selling 19,523 shares and ending with 101,031 shares worth about $6.77 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 83.42% of the company’s stock, while several major funds recently increased positions.
• Everpure’s latest results beat expectations: it reported $0.69 EPS on $1.06 billion in revenue, topping analyst estimates, and analysts currently rate the stock a “Moderate Buy” with a consensus target price of $93.21.

Bailard Inc. lessened its holdings in shares of Everpure, Inc. (NYSE:P - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,031 shares of the company's stock after selling 19,523 shares during the period. Bailard Inc.'s holdings in Everpure were worth $6,770,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in P. Vanguard Group Inc. raised its stake in Everpure by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 33,891,025 shares of the company's stock worth $2,840,407,000 after acquiring an additional 623,019 shares during the last quarter. State Street Corp raised its stake in Everpure by 1.9% in the 3rd quarter. State Street Corp now owns 10,864,918 shares of the company's stock worth $910,589,000 after acquiring an additional 199,831 shares during the last quarter. Atreides Management LP raised its stake in Everpure by 15.4% in the 3rd quarter. Atreides Management LP now owns 4,098,376 shares of the company's stock worth $343,485,000 after acquiring an additional 545,890 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Everpure by 786.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company's stock worth $337,554,000 after acquiring an additional 3,573,493 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its stake in Everpure by 90.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company's stock worth $237,278,000 after acquiring an additional 1,345,207 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Everpure Stock Performance

NYSE:P opened at $87.18 on Tuesday. Everpure, Inc. has a 52 week low of $50.20 and a 52 week high of $100.59. The stock has a market cap of $28.81 billion, a PE ratio of 137.12, a price-to-earnings-growth ratio of 5.83 and a beta of 1.44.

Everpure (NYSE:P - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm earned $0.45 EPS. The company's quarterly revenue was up 20.4% on a year-over-year basis. As a group, analysts expect that Everpure, Inc. will post 0.72 EPS for the current fiscal year.

Insider Activity at Everpure

In related news, insider John Colgrove sold 29,108 shares of Everpure stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $75.31, for a total value of $2,192,123.48. Following the sale, the insider directly owned 467,694 shares in the company, valued at approximately $35,222,035.14. The trade was a 5.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 334,265 shares of company stock worth $24,135,234. 5.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on P. Barclays raised their target price on Everpure from $77.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 26th. Wells Fargo & Company reduced their target price on Everpure from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Wall Street Zen upgraded Everpure from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Piper Sandler restated a "buy" rating on shares of Everpure in a research note on Thursday, February 26th. Finally, Wedbush restated an "outperform" rating and issued a $100.00 target price on shares of Everpure in a research note on Monday, February 23rd. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Everpure has a consensus rating of "Moderate Buy" and a consensus target price of $93.21.

Key Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure announced new Portworx capabilities for Red Hat OpenShift, including deeper integration for managing storage, data protection, and disaster recovery directly inside the OpenShift console. That could improve adoption of its platform in AI and containerized workloads. Portworx by Everpure Makes Data Management Native to Red Hat OpenShift
• Positive Sentiment: Trading activity suggests rising investor optimism, with unusual call buying and reports that Everpure is rallying ahead of its upcoming earnings test. Why Everpure (P) stock is trading up today
• Positive Sentiment: Analysts currently rate Everpure a “Moderate Buy,” which supports the view that Wall Street remains constructive on the stock despite its strong run. Everpure, Inc. NYSE: P Given Average Recommendation of "Moderate Buy" by Analysts
• Neutral Sentiment: One article questioned whether Everpure may already be priced for a lot of optimism after a 63.7% one-year gain, framing the stock’s recent strength as a valuation debate rather than a clear bullish or bearish signal. Is It Too Late To Consider Everpure (P) After Its 63.7% One Year Surge?

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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