Everpure, Inc. $P Position Trimmed by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors cut its Everpure stake by 71.6% in the third quarter, selling 51,554 shares and retaining 20,418 shares valued at about $2.67 million.
• Everpure reported quarterly EPS of $0.70, beating the $0.19 consensus estimate; revenue rose 37.7% year over year to $1.19 billion.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $148.65. Insiders sold about 1.11 million shares worth $131.4 million over the past three months.

Summit Creek Advisors LLC decreased its holdings in Everpure, Inc. (NYSE:P - Free Report) by 71.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,418 shares of the company's stock after selling 51,554 shares during the quarter. Summit Creek Advisors LLC's holdings in Everpure were worth $2,670,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in P. Family Legacy Financial Solutions LLC lifted its position in shares of Everpure by 3.6% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 2,113 shares of the company's stock valued at $276,000 after acquiring an additional 73 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Everpure by 1.1% in the 3rd quarter. IFP Advisors Inc now owns 10,449 shares of the company's stock worth $1,367,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC grew its holdings in shares of Everpure by 49.0% in the 3rd quarter. Fortitude Family Office LLC now owns 362 shares of the company's stock worth $47,000 after acquiring an additional 119 shares during the last quarter. Brookstone Capital Management raised its position in shares of Everpure by 4.4% during the third quarter. Brookstone Capital Management now owns 2,877 shares of the company's stock worth $376,000 after purchasing an additional 121 shares during the period. Finally, Diversify Advisory Services LLC raised its position in shares of Everpure by 4.4% during the third quarter. Diversify Advisory Services LLC now owns 3,976 shares of the company's stock worth $530,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity

In other Everpure news, insider John Colgrove sold 100,000 shares of Everpure stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $145.00, for a total transaction of $14,500,000.00. Following the transaction, the insider owned 5,393,309 shares of the company's stock, valued at $782,029,805. The trade was a 1.82% 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. Also, Director Andrew Brown sold 4,268 shares of Everpure stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $156.03, for a total value of $665,936.04. Following the transaction, the director directly owned 23,415 shares in the company, valued at approximately $3,653,442.45. This trade represents a 15.42% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,110,186 shares of company stock worth $131,424,120. Corporate insiders own 5.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on P shares. Wall Street Zen downgraded Everpure from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 12th. Evercore lifted their price target on Everpure from $145.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, October 5th. Weiss Ratings raised Everpure from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 14th. Raymond James Financial boosted their price objective on Everpure from $122.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, September 25th. Finally, UBS Group upped their price objective on shares of Everpure from $70.00 to $80.00 and gave the company a "sell" rating in a research note on Thursday, August 27th. One 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $148.65.

Everpure Price Performance

P opened at $96.93 on Friday. The firm has a fifty day simple moving average of $119.98. The stock has a market capitalization of $32.30 billion, a price-to-earnings ratio of 132.78, a P/E/G ratio of 3.23 and a beta of 1.43. Everpure, Inc. has a 12-month low of $56.78 and a 12-month high of $157.57.

Everpure (NYSE:P - Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.19 by $0.51. The business had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The firm's revenue was up 37.7% compared to the same quarter last year. On average, equities analysts expect that Everpure, Inc. will post 0.95 earnings per share for the current year.

Everpure Company Profile

Everpure, formerly known as Pure Storage, provides data storage and management technology for businesses and other organizations. Its offerings are designed to support applications, databases, analytics, cloud environments and other data-intensive workloads.

The company's portfolio includes FlashArray systems for block and file storage, FlashBlade systems for unstructured data and high-performance workloads, and Pure1 software for monitoring and managing storage environments. Everpure also offers subscription-based services, including its Evergreen storage model.

Founded as Pure Storage in 2009, the company serves customers internationally.

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