Everpure, Inc. $P Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group cut its Everpure stake by 2.3% in the fourth quarter, selling 18,213 shares and leaving it with 757,052 shares worth about $50.7 million.
• Insider John Colgrove sold 82,266 shares in a pre-arranged Rule 10b5-1 transaction, and insiders have sold 334,265 shares total over the last 90 days.
• Everpure reported strong quarterly results, with EPS of $0.69 beating estimates and revenue of $1.06 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $93.21.

Principal Financial Group Inc. lessened its stake in Everpure, Inc. (NYSE:P - Free Report) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 757,052 shares of the company's stock after selling 18,213 shares during the period. Principal Financial Group Inc. owned about 0.23% of Everpure worth $50,730,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Everpure by 8.3% during the 3rd quarter. Versant Capital Management Inc now owns 1,598 shares of the company's stock worth $134,000 after purchasing an additional 122 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Everpure by 40.1% in the third quarter. Smartleaf Asset Management LLC now owns 468 shares of the company's stock valued at $39,000 after acquiring an additional 134 shares during the last quarter. One Capital Management LLC lifted its position in Everpure by 1.0% in the third quarter. One Capital Management LLC now owns 14,750 shares of the company's stock valued at $1,236,000 after acquiring an additional 141 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Everpure by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,756 shares of the company's stock valued at $3,667,000 after acquiring an additional 152 shares during the last quarter. Finally, State of Wyoming lifted its position in Everpure by 10.3% in the third quarter. State of Wyoming now owns 1,673 shares of the company's stock valued at $140,000 after acquiring an additional 156 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Buying and Selling

In related news, insider John Colgrove sold 82,266 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $70.50, for a total transaction of $5,799,753.00. Following the completion of the transaction, the insider owned 66,927 shares of the company's stock, valued at approximately $4,718,353.50. This represents a 55.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 334,265 shares of company stock worth $24,135,234 over the last ninety days. Corporate insiders own 0.43% of the company's stock.

Everpure Trading Up 2.6%

Shares of NYSE P opened at $78.04 on Friday. Everpure, Inc. has a 12-month low of $48.31 and a 12-month high of $100.59. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 133.42, a price-to-earnings-growth ratio of 5.68 and a beta of 1.44.

Everpure (NYSE:P - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The company's quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities analysts predict that Everpure, Inc. will post 0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

P has been the topic of a number of recent research reports. Piper Sandler restated a "buy" rating on shares of Everpure in a research note on Thursday, February 26th. Wells Fargo & Company dropped their price objective on shares of Everpure from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday, February 26th. UBS Group lifted their price objective on shares of Everpure from $60.00 to $63.00 and gave the company a "sell" rating in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of Everpure from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Finally, Weiss Ratings initiated coverage on shares of Everpure in a research note on Monday, April 20th. They issued a "hold (c)" rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.21.

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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