Legal & General Group Plc Lowers Position in Everpure, Inc. $P

Key Points

• Legal & General Group Plc reduced its stake in Everpure by 3.7% in the fourth quarter, selling 75,536 shares and ending with about 1.98 million shares valued at roughly $132.4 million.
• Everpure reported a strong Q1 earnings beat, posting EPS of $0.47 versus $0.40 expected and revenue of $1.05 billion versus $997.9 million expected, with sales up 35.2% year over year.
• Despite the beat, the stock fell sharply as investors focused on a weaker near-term outlook and concerns about cash flow; Everpure shares were down 14.6% and insider John Colgrove also sold 200,000 shares in a pre-arranged transaction.

Legal & General Group Plc cut its holdings in shares of Everpure, Inc. (NYSE:P - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,975,473 shares of the company's stock after selling 75,536 shares during the quarter. Legal & General Group Plc owned about 0.60% of Everpure worth $132,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of P. Westfield Capital Management Co. LP grew its stake in shares of Everpure by 69.4% in the third quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company's stock valued at $146,798,000 after buying an additional 717,834 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Everpure by 96.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the company's stock valued at $2,612,000 after buying an additional 15,286 shares in the last quarter. AlTi Global Inc. acquired a new stake in shares of Everpure in the third quarter valued at $2,517,000. ARK Investment Management LLC grew its stake in shares of Everpure by 12.6% in the third quarter. ARK Investment Management LLC now owns 347,093 shares of the company's stock valued at $29,090,000 after buying an additional 38,768 shares in the last quarter. Finally, RBA Wealth Management LLC acquired a new stake in shares of Everpure in the third quarter valued at $5,964,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Everpure

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure beat Q1 expectations, reporting EPS of $0.47 versus $0.40 expected and revenue of $1.05 billion versus $997.9 million expected, with sales up 35.2% year over year. The company also highlighted strong AI infrastructure demand, enterprise wins, and subscription growth. Article title
• Positive Sentiment: Management raised full-year revenue guidance to $4.4 billion-$4.5 billion, which came in above consensus and signals confidence in demand trends. Article title
• Positive Sentiment: Several analysts turned more constructive after the report: JPMorgan raised its price target to $92 with an overweight rating, while Needham reiterated buy with a $100 target. Article title
• Neutral Sentiment: Everpure’s next-quarter revenue guidance was less impressive than investors wanted, with commentary indicating it could fall well short of market expectations. That softer outlook likely outweighed the strong headline beat. Article title
• Negative Sentiment: Some coverage said the stock sold off because free cash flow dropped and the market remained cautious about profitability quality despite the earnings beat. Article title

Analysts Set New Price Targets

Several research firms recently commented on P. Barclays boosted their target price on Everpure from $81.00 to $84.00 and gave the stock an "equal weight" rating in a research note on Thursday. Wall Street Zen raised Everpure from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Northland Securities set a $90.00 price target on Everpure in a research report on Thursday. Citigroup lowered Everpure from a "buy" rating to a "neutral" rating and set a $90.00 price target on the stock. in a research report on Thursday, May 14th. Finally, William Blair reaffirmed an "outperform" rating on shares of Everpure 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.32.

Insider Activity

In other news, insider John Colgrove sold 200,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the completion of the transaction, the insider directly owned 6,625,221 shares of the company's stock, valued at approximately $569,305,240.53. This represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 534,265 shares of company stock worth $41,321,234. Corporate insiders own 5.10% of the company's stock.

Everpure Trading Down 14.6%

P stock opened at $73.18 on Friday. The stock has a market capitalization of $24.18 billion, a price-to-earnings ratio of 110.88, a P/E/G ratio of 6.31 and a beta of 1.44. Everpure, Inc. has a 1 year low of $50.20 and a 1 year high of $100.59.

Everpure (NYSE:P - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $997.88 million. Everpure had a return on equity of 16.12% and a net margin of 5.75%.The business's quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Equities analysts forecast that Everpure, Inc. will post 0.72 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.