Nykredit A S Takes $10.80 Million Position in Everpure, Inc. $P

Key Points

• Nykredit A/S acquired a new $10.8 million position in Everpure, purchasing 137,037 shares during the second quarter. Institutional investors now own 83.42% of the company.
• Insiders have sold 817,520 shares worth approximately $77.3 million over the past 90 days, including a 200,000-share sale by insider John Colgrove.
• Analysts maintain a generally bullish outlook, with a “Moderate Buy” consensus and an average price target of $129.10. Everpure also beat quarterly earnings estimates, reporting $0.70 per share versus the $0.19 consensus, while revenue rose 37.7% year over year.

Nykredit A S bought a new position in Everpure, Inc. (NYSE:P - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 137,037 shares of the company's stock, valued at approximately $10,797,000.

Other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in Everpure during the 1st quarter valued at about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Everpure by 129.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company's stock worth $387,000 after buying an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Everpure by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company's stock valued at $50,377,000 after buying an additional 595,307 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Everpure by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the company's stock valued at $212,000 after buying an additional 194 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Everpure by 261.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company's stock valued at $184,000 after acquiring an additional 2,316 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Insider Activity

In related news, insider John Colgrove sold 200,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the completion of the transaction, the insider directly owned 6,474,080 shares of the company's stock, valued at approximately $627,856,278.40. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan J.S. Taylor sold 8,543 shares of the business's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $81.74, for a total transaction of $698,304.82. Following the completion of the sale, the director owned 94,608 shares in the company, valued at approximately $7,733,257.92. The trade was a 8.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 817,520 shares of company stock worth $77,276,792 over the last ninety days. Corporate insiders own 5.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on P. Evercore reaffirmed an "outperform" rating and issued a $130.00 price objective on shares of Everpure in a research report on Monday, August 24th. Guggenheim reissued a "buy" rating and issued a $150.00 target price on shares of Everpure in a report on Thursday, August 27th. Morgan Stanley boosted their price target on Everpure from $108.00 to $119.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Wells Fargo & Company upped their price target on Everpure from $97.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $133.00 price objective (up from $92.00) on shares of Everpure in a research report on Thursday, August 27th. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.10.

Everpure Trading Up 1.4%

Shares of P stock opened at $99.50 on Friday. Everpure, Inc. has a 12 month low of $56.78 and a 12 month high of $119.10. The stock has a market capitalization of $33.07 billion, a PE ratio of 136.30, a P/E/G ratio of 4.00 and a beta of 1.43. The firm's 50 day simple moving average is $87.86.

Everpure (NYSE:P - Get Free Report) last released its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.51. The company had revenue of $1.19 billion for the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The company's revenue was up 37.7% compared to the same quarter last year. On average, sell-side analysts predict that Everpure, Inc. will post 0.96 earnings per share for the current year.

About Everpure

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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