Everpure, Inc. $P Shares Sold by Strs Ohio

Key Points

• Major holders and insiders selling: Strs Ohio cut its stake by 38.5% (sold 60,587 shares), and insider John Colgrove sold 82,266 shares at $70.50 under a Rule 10b5-1 plan, with insiders selling 200,000 shares (~$14.05M) in the past 90 days.
• Earnings beat and strong revenue growth: Everpure reported Q4 EPS of $0.69 vs. $0.65 expected and revenue of $1.06B (up 20.4% year-over-year).
• Mixed analyst moves but a moderate buy consensus: Several firms trimmed price targets (JPM, Wells Fargo, Citigroup) while Barclays nudged its target up; the consensus rating is "Moderate Buy" with an average target of $93.21 versus a recent price near $72.68 and a high P/E of 125.65.

Strs Ohio decreased its holdings in Everpure, Inc. (NYSE:P - Free Report) by 38.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,839 shares of the company's stock after selling 60,587 shares during the quarter. Strs Ohio's holdings in Everpure were worth $6,489,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of P. Winnow Wealth LLC acquired a new position in shares of Everpure during the third quarter valued at approximately $26,000. Provenance Wealth Advisors LLC acquired a new position in shares of Everpure during the third quarter valued at approximately $27,000. Sunbelt Securities Inc. raised its holdings in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock valued at $28,000 after acquiring an additional 244 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Everpure during the third quarter valued at approximately $28,000. Finally, Assetmark Inc. raised its holdings in shares of Everpure by 186.6% during the third quarter. Assetmark Inc. now owns 341 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insiders Place Their Bets

In related news, insider John Colgrove sold 82,266 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $70.50, for a total value of $5,799,753.00. Following the completion of the transaction, the insider directly owned 66,927 shares in the company, 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 legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 200,000 shares of company stock valued at $14,046,750 in the last ninety days. Corporate insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Everpure from $105.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. Weiss Ratings assumed coverage on Everpure in a report on Monday, April 20th. They set a "hold (c)" rating for the company. 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 report on Thursday, February 26th. Barclays increased their target price on Everpure from $77.00 to $81.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Finally, Citigroup dropped their price target on Everpure from $105.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 17th. Thirteen research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.21.

Everpure Stock Up 1.5%

Shares of Everpure stock opened at $72.68 on Tuesday. The company has a market capitalization of $24.02 billion, a P/E ratio of 125.65, a price-to-earnings-growth ratio of 5.35 and a beta of 1.44. Everpure, Inc. has a fifty-two week low of $46.31 and a fifty-two week high of $100.59.

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

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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