Generali Asset Management SPA SGR Purchases 8,269 Shares of Everpure, Inc. $P

Key Points

• Generali Asset Management acquired 8,269 Everpure shares worth approximately $1.08 million during the third quarter. Institutional investors collectively own 83.42% of the company, with several major funds significantly increasing or initiating positions.
• Analysts remain broadly bullish, giving Everpure a consensus “Moderate Buy” rating and an average price target of $143.25. Recent targets range as high as $215, while the stock opened at $137.13.
• Everpure reported quarterly EPS of $0.70, exceeding estimates of $0.19, while revenue rose 37.7% year over year to $1.19 billion. Insiders, however, sold more than 1.2 million shares worth approximately $142.3 million over the past quarter.

Generali Asset Management SPA SGR purchased a new position in Everpure, Inc. (NYSE:P - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,269 shares of the company's stock, valued at approximately $1,081,000.

Several other institutional investors and hedge funds also recently made changes to their positions in P. JANA Partners Management LP bought a new stake in shares of Everpure during the second quarter valued at approximately $77,939,000. Assenagon Asset Management S.A. raised its stake in shares of Everpure by 504.0% in the third quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company's stock valued at $130,003,000 after purchasing an additional 829,476 shares in the last quarter. Artemis Investment Management LLP lifted its position in Everpure by 100.1% in the third quarter. Artemis Investment Management LLP now owns 775,776 shares of the company's stock worth $101,456,000 after purchasing an additional 388,066 shares during the period. Raiffeisen Bank International AG bought a new position in Everpure in the second quarter worth $25,525,000. Finally, Engineers Gate Manager LP bought a new position in Everpure in the second quarter worth $25,859,000. Institutional investors own 83.42% of the company's stock.

Wall Street Analysts Forecast Growth

P has been the subject of a number of recent research reports. Oppenheimer reissued an "outperform" rating and issued a $140.00 target price on shares of Everpure in a report on Thursday, August 20th. Piper Sandler boosted their price target on Everpure from $133.00 to $162.00 and gave the company an "overweight" rating in a research note on Thursday, September 24th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Everpure in a research note on Monday, October 12th. Guggenheim upped their price target on Everpure from $150.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Finally, Bank of America upgraded Everpure from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $90.00 to $150.00 in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Everpure has a consensus rating of "Moderate Buy" and an average price target of $143.25.

Everpure Price Performance

Shares of P stock opened at $137.13 on Friday. Everpure, Inc. has a 1 year low of $56.78 and a 1 year high of $157.57. The business's 50 day moving average is $119.36. The firm has a market capitalization of $45.70 billion, a price-to-earnings ratio of 187.85, a price-to-earnings-growth ratio of 4.62 and a beta of 1.39.

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

Insider Activity at Everpure

In other news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction on 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 completion of the sale, the insider owned 5,393,309 shares in the company, valued at $782,029,805. The trade was a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Scott Dietzen sold 60,000 shares of the company's stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $141.60, for a total value of $8,496,000.00. Following the transaction, the director directly owned 70,000 shares in the company, valued at $9,912,000. This trade represents a 46.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,235,091 shares of company stock valued at $142,276,537 over the last quarter. 5.10% of the stock is currently owned by corporate insiders.

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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