Everpure, Inc. $P Position Cut by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Everpure position by 62.7% in the third quarter, selling 13,128 shares and retaining 7,795 shares valued at approximately $1.02 million.
• Other institutional investors increased their exposure, including Assenagon Asset Management, which raised its holdings by 504%. Institutional investors collectively own 83.42% of the company.
• Everpure reported quarterly revenue of $1.19 billion, up 37.7% year over year, and earnings of $0.70 per share versus estimates of $0.19. Analysts maintain a “Moderate Buy” consensus with an average price target of $143.25, while insiders have recently sold significant shares.

Crossmark Global Holdings Inc. lowered its position in shares of Everpure, Inc. (NYSE:P - Free Report) by 62.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,795 shares of the company's stock after selling 13,128 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Everpure were worth $1,019,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of P. Assenagon Asset Management S.A. increased its holdings in shares of Everpure by 504.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company's stock valued at $130,003,000 after acquiring an additional 829,476 shares during the last quarter. JANA Partners Management LP acquired a new stake in shares of Everpure during the 2nd quarter valued at approximately $77,939,000. Artemis Investment Management LLP raised 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 acquiring an additional 388,066 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Everpure during the 2nd quarter valued at approximately $25,525,000. Finally, Engineers Gate Manager LP bought a new position in Everpure during the second quarter worth $25,859,000. Institutional investors own 83.42% of the company's stock.

Everpure Stock Up 6.4%

NYSE:P opened at $131.24 on Tuesday. Everpure, Inc. has a 12-month low of $56.78 and a 12-month high of $157.57. The firm has a market cap of $43.73 billion, a price-to-earnings ratio of 152.26, a P/E/G ratio of 4.11 and a beta of 1.39. The firm's 50 day moving average is $117.74.

Everpure (NYSE:P - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The firm had revenue of $1.19 billion during the quarter. The business's quarterly revenue was up 37.7% on a year-over-year basis. As a group, sell-side analysts forecast that Everpure, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

P has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Everpure from $119.00 to $137.00 and gave the company an "overweight" rating in a research note on Thursday, September 24th. Zacks Research upgraded shares of Everpure from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Barclays raised their price target on shares of Everpure from $110.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, September 25th. Citigroup lifted their price target on shares of Everpure from $130.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 24th. Finally, Needham & Company LLC boosted their price objective on shares of Everpure from $150.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $143.25.

Insider Activity

In other news, insider John Colgrove sold 200,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the completion of the transaction, the insider owned 6,474,080 shares in the company, valued at approximately $627,856,278.40. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,235,091 shares of company stock worth $142,276,537 over the last three months. Insiders own 5.10% of the company's stock.

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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