Fisher Asset Management LLC Acquires Shares of 71,781 Everpure, Inc. $PSTG

Key Points

• Fisher Asset Management LLC initiated a new stake of 71,781 shares in Everpure, Inc. (NYSE:PSTG) in Q3, valued at approximately $6.02 million.
• Everpure recently beat estimates with $0.69 EPS versus $0.65 expected and $1.06B in revenue (up 20.4% year‑over‑year), while trading at a high valuation with a market cap of $20.19 billion and a P/E of 111.17.
• Insiders have sold shares — notably John Colgrove's 100,000‑share sale for about $7.13 million — yet institutional investors own ~83.4% of the stock and analysts' consensus is a "Moderate Buy" with an average target of $94.32.

Fisher Asset Management LLC bought a new stake in Everpure, Inc. (NYSE:PSTG - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 71,781 shares of the technology company's stock, valued at approximately $6,016,000.

Other hedge funds have also made changes to their positions in the company. Winnow Wealth LLC purchased a new stake in Everpure during the 3rd quarter valued at approximately $26,000. Provenance Wealth Advisors LLC purchased a new position in shares of Everpure in the 3rd quarter valued at approximately $27,000. Assetmark Inc. increased its holdings in shares of Everpure by 186.6% in the third quarter. Assetmark Inc. now owns 341 shares of the technology company's stock valued at $29,000 after purchasing an additional 222 shares during the period. True Wealth Design LLC raised its stake in shares of Everpure by 402.8% during the second quarter. True Wealth Design LLC now owns 548 shares of the technology company's stock worth $32,000 after purchasing an additional 439 shares during the last quarter. Finally, SouthState Corp raised its stake in shares of Everpure by 474.8% during the second quarter. SouthState Corp now owns 592 shares of the technology company's stock worth $34,000 after purchasing an additional 489 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Everpure Trading Down 0.4%

Shares of PSTG opened at $61.14 on Friday. Everpure, Inc. has a twelve month low of $34.51 and a twelve month high of $100.59. The firm has a market capitalization of $20.19 billion, a P/E ratio of 111.17, a PEG ratio of 4.59 and a beta of 1.29. The firm's 50-day moving average is $69.97 and its two-hundred day moving average is $77.58.

Everpure (NYSE:PSTG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company earned $0.45 EPS. The company's quarterly revenue was up 20.4% on a year-over-year basis. Analysts predict that Everpure, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of Everpure stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajay Singh sold 7,178 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

PSTG has been the topic of several recent research reports. Morgan Stanley set a $83.00 price objective on shares of Everpure in a research note on Wednesday, December 3rd. UBS Group lifted their target price on shares of Everpure from $60.00 to $63.00 and gave the company a "sell" rating in a report on Thursday, February 26th. TD Cowen reiterated a "buy" rating on shares of Everpure in a research note on Wednesday, December 3rd. Oppenheimer started coverage on shares of Everpure in a research report on Monday, November 17th. They issued an "outperform" rating and a $120.00 price objective for the company. Finally, Piper Sandler reaffirmed a "buy" rating on shares of Everpure in a report on Thursday, February 26th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $94.32.

Everpure Company Profile

Everpure, Inc NYSE: PSTG, formerly known as Pure Storage, Inc, is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays engineered to deliver high performance, low latency, and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics, and large-scale file and object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.

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