Geode Capital Management LLC Acquires 207,317 Shares of Everpure, Inc. $P

Key Points

• Geode Capital Management increased its stake in Everpure by 2.8% in the fourth quarter, buying 207,317 additional shares and bringing its total to 7.7 million shares, worth about $516 million.
• Everpure’s latest earnings beat expectations, with Q1 EPS of $0.47 versus $0.40 expected and revenue of $1.05 billion, up 35.2% year over year.
• Analysts remain generally constructive, with the stock carrying an average Moderate Buy rating and a consensus price target of $96.32, even though some firms kept neutral or sell ratings.

Geode Capital Management LLC grew its holdings in Everpure, Inc. (NYSE:P - Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,716,158 shares of the company's stock after purchasing an additional 207,317 shares during the quarter. Geode Capital Management LLC owned approximately 2.34% of Everpure worth $515,972,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Winnow Wealth LLC bought a new position in shares of Everpure in the 3rd quarter valued at about $26,000. Provenance Wealth Advisors LLC bought a new position in shares of Everpure in the 3rd quarter valued at about $27,000. Sunbelt Securities Inc. boosted its stake in shares of Everpure by 287.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Everpure in the 3rd quarter valued at about $28,000. Finally, Assetmark Inc. boosted its stake in shares of Everpure by 186.6% in the 3rd quarter. Assetmark Inc. now owns 341 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 83.42% of the company's stock.

Everpure Stock Performance

Shares of P stock opened at $79.31 on Monday. The company has a market cap of $26.21 billion, a price-to-earnings ratio of 120.17, a P/E/G ratio of 5.64 and a beta of 1.44. Everpure, Inc. has a 52 week low of $50.20 and a 52 week high of $100.59.

Everpure (NYSE:P - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.40 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The business's quarterly revenue was up 35.2% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. On average, analysts forecast that Everpure, Inc. will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Everpure from $63.00 to $70.00 and gave the company a "sell" rating in a research note on Thursday. Morgan Stanley increased their price target on shares of Everpure from $84.00 to $87.00 and gave the company an "equal weight" rating in a research report on Thursday. Northland Securities set a $90.00 price target on shares of Everpure in a research report on Thursday. Barclays increased their price target on shares of Everpure from $81.00 to $84.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Wedbush increased their price target on shares of Everpure from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.32.

Trending Headlines about Everpure

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure reported Q1 earnings of $0.47 per share, ahead of the $0.40 consensus, with revenue of $1.05 billion also topping estimates and rising 35.2% year over year. Everpure (P) Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management said AI-led storage demand, enterprise wins, and subscription growth helped drive the quarter, reinforcing the growth story for Everpure’s data storage business. Everpure Q1 Earnings Beat on Strong AI-Led Storage Demand, Sales Jump Y/Y
• Positive Sentiment: Several analysts responded favorably after the report, including JPMorgan raising its price target to $92 and Needham reiterating a buy rating with a $100 target, suggesting Wall Street sees continued upside. Analyst rating updates
• Neutral Sentiment: The company’s full-year revenue guidance came in above expectations, but next-quarter revenue guidance disappointed, which helped explain the stock’s volatility after earnings. P Q1 Deep Dive: Supply Chain Dynamics and Pricing Power Shape Results and Guidance
• Negative Sentiment: Investors were also disappointed by weaker free cash flow and cautious near-term guidance, which triggered a sharp post-earnings pullback despite the beat. Everpure beats on revenue and earnings but free cash flow drop sends shares lower

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 200,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the sale, the insider directly owned 6,625,221 shares in the company, valued at approximately $569,305,240.53. This trade represents a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 534,265 shares of company stock worth $41,321,234. Company insiders own 5.10% of the company's stock.

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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