Bank Pictet & Cie Europe AG Buys 13,462 Shares of Everpure, Inc. $P

Key Points

• Bank Pictet & Cie Europe AG increased its Everpure position by 15.8% in the third quarter, adding 13,462 shares and bringing its holdings to 98,870 shares valued at approximately $12.93 million. Institutional investors and hedge funds collectively own 83.42% of the stock.
• Everpure reported quarterly revenue of $1.19 billion, up 37.7% year over year, and earnings of $0.70 per share, beating consensus estimates by $0.51. The stock recently traded at $126.30, with a 52-week range of $56.78 to $157.57.
• Analysts maintain a generally positive outlook, with 18 Buy ratings, three Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $143.25. Meanwhile, insiders sold 1.24 million shares worth about $142.3 million during the latest quarter.

Bank Pictet & Cie Europe AG raised its position in Everpure, Inc. (NYSE:P - Free Report) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,870 shares of the company's stock after purchasing an additional 13,462 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Everpure were worth $12,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paradigm Capital Management Inc. NY acquired a new stake in shares of Everpure during the second quarter valued at about $2,127,000. Nykredit A S acquired a new position in Everpure during the 2nd quarter worth $9,412,000. Wellington Management Group LLP purchased a new stake in shares of Everpure during the second quarter worth approximately $2,192,000. Raiffeisen Bank International AG purchased a new stake in shares of Everpure in the 2nd quarter valued at approximately $25,525,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Everpure during the second quarter worth approximately $814,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Everpure Price Performance

Everpure stock traded down $0.79 during midday trading on Tuesday, reaching $126.30. The stock had a trading volume of 1,066,800 shares, compared to its average volume of 3,806,486. Everpure, Inc. has a twelve month low of $56.78 and a twelve month high of $157.57. The stock has a market capitalization of $42.09 billion, a PE ratio of 172.89, a PEG ratio of 4.14 and a beta of 1.39. The firm has a 50-day moving average price of $116.46.

Everpure (NYSE:P - Get Free Report) last posted its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 during the quarter. Everpure's revenue was up 37.7% on a year-over-year basis. Analysts predict that Everpure, Inc. will post 0.95 EPS for the current year.

Insider Buying and Selling at Everpure

In related news, CAO Mona Chu sold 5,112 shares of Everpure stock in a transaction on Friday, October 9th. The shares were sold at an average price of $151.40, for a total transaction of $773,956.80. Following the sale, the chief accounting officer owned 125,982 shares of the company's stock, valued at $19,073,674.80. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott Dietzen sold 60,000 shares of Everpure stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $141.60, for a total value of $8,496,000.00. Following the sale, the director directly owned 70,000 shares in the company, valued at approximately $9,912,000. The trade was a 46.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,235,091 shares of company stock worth $142,276,537. Insiders own 5.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on P shares. Evercore restated an "outperform" rating and set a $145.00 price target on shares of Everpure in a research note on Thursday, September 24th. JPMorgan Chase & Co. lifted their price objective on Everpure from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Wall Street Zen lowered shares of Everpure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Citigroup upped their price target on Everpure from $130.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, September 24th. Finally, DA Davidson set a $100.00 target price on shares of Everpure in a research report on Wednesday, July 1st. Eighteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Everpure presently has an average rating of "Moderate Buy" and an average price target of $143.25.

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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