Mountain Hill Investment Partners Corp. Acquires Shares of 105,800 Everpure, Inc. $PSTG

Key Points

• Mountain Hill Investment Partners disclosed a new position of 105,800 shares in Everpure (NYSE: PSTG) in Q4, valued at about $7.09 million, representing roughly 5.1% of the firm's holdings and its 11th-largest position.
• Everpure beat Q4 expectations with $0.69 EPS vs. $0.65 expected and revenue of $1.06 billion (up 20.4% year-over-year), while analysts project ~0.44 EPS for the current fiscal year.
• Analysts hold a consensus "Moderate Buy" rating with an average target of $93.21 (13 Buys, 5 Holds, 1 Sell); the stock trades with a market cap of $22.37 billion and a P/E around 123.08.

Mountain Hill Investment Partners Corp. acquired a new position in shares of Everpure, Inc. (NYSE:PSTG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 105,800 shares of the technology company's stock, valued at approximately $7,090,000. Everpure comprises about 5.1% of Mountain Hill Investment Partners Corp.'s holdings, making the stock its 11th biggest position.

Several other hedge funds also recently made changes to their positions in PSTG. Winnow Wealth LLC acquired a new position in shares of Everpure during the third quarter worth about $26,000. Provenance Wealth Advisors LLC acquired a new stake in Everpure in the third quarter valued at about $27,000. Foster Dykema Cabot & Partners LLC purchased a new stake in Everpure in the 3rd quarter valued at approximately $28,000. Sunbelt Securities Inc. increased its position in Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company's stock worth $28,000 after purchasing an additional 244 shares during the period. Finally, Assetmark Inc. increased its position in Everpure by 186.6% during the 3rd quarter. Assetmark Inc. now owns 341 shares of the technology company's stock worth $29,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PSTG shares. Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Everpure in a report on Monday, February 23rd. Barclays upped their price objective on Everpure from $77.00 to $81.00 and gave the stock an "equal weight" rating in a report on Thursday, February 26th. Citigroup reduced their target price on Everpure from $105.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. Northland Securities upgraded shares of Everpure from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $77.00 to $81.00 in a research report on Monday, March 9th. Finally, Wall Street Zen raised shares of Everpure from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Thirteen investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.21.

Everpure Stock Performance

PSTG stock opened at $67.69 on Friday. The company has a 50 day moving average price of $65.39 and a two-hundred day moving average price of $74.76. The stock has a market capitalization of $22.37 billion, a P/E ratio of 123.08, a PEG ratio of 4.84 and a beta of 1.34. Everpure, Inc. has a one year low of $39.72 and a one year high of $100.59.

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

Everpure 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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