OP Asset Management Ltd Takes $1.78 Million Position in Everpure, Inc. $P

Key Points

• OP Asset Management Ltd opened a new position in Everpure, buying 30,232 shares valued at about $1.78 million in the first quarter.
• Analyst sentiment remains mixed but generally positive: Everpure has a Moderate Buy consensus with an average price target of $96.32, though UBS recently kept a sell rating while others like Wedbush and Piper Sandler remained bullish.
• Insider selling has been notable, including large recent sales by John Colgrove and Mallun Yen, even as the company reported better-than-expected quarterly earnings and 35.2% year-over-year revenue growth.

OP Asset Management Ltd acquired a new stake in Everpure, Inc. (NYSE:P - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 30,232 shares of the company's stock, valued at approximately $1,785,000.

Other large investors have also bought and sold shares of the company. One Capital Management LLC lifted its stake in Everpure by 1.0% in the third quarter. One Capital Management LLC now owns 14,750 shares of the company's stock valued at $1,236,000 after buying an additional 141 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of Everpure by 18.1% during the fourth quarter. Rothschild Investment LLC now owns 993 shares of the company's stock worth $67,000 after acquiring an additional 152 shares during the period. GraniteShares Advisors LLC raised its holdings in shares of Everpure by 2.3% during the fourth quarter. GraniteShares Advisors LLC now owns 6,918 shares of the company's stock worth $464,000 after acquiring an additional 157 shares during the period. GAMMA Investing LLC lifted its position in Everpure by 2.4% in the 4th quarter. GAMMA Investing LLC now owns 6,938 shares of the company's stock valued at $465,000 after acquiring an additional 164 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in Everpure by 50.3% in the 4th quarter. Transamerica Financial Advisors LLC now owns 508 shares of the company's stock worth $34,000 after purchasing an additional 170 shares during the period. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

P has been the topic of a number of recent research reports. UBS Group lifted their price objective on shares of Everpure from $63.00 to $70.00 and gave the company a "sell" rating in a report on Thursday, May 28th. Piper Sandler reiterated an "overweight" rating on shares of Everpure in a research note on Thursday, May 28th. William Blair reaffirmed an "outperform" rating on shares of Everpure in a report on Thursday, May 28th. Wedbush increased their target price on Everpure from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. Finally, Citigroup cut Everpure from a "buy" rating to a "neutral" rating and set a $90.00 price target for the company. in a report on Thursday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $96.32.

Insider Activity at Everpure

In other Everpure news, insider John Colgrove sold 99,900 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $71.04, for a total transaction of $7,096,896.00. Following the sale, the insider directly owned 2,615,000 shares of the company's stock, valued at $185,769,600. The trade was a 3.68% 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. Also, Director Mallun Yen sold 4,735 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $76.90, for a total transaction of $364,121.50. Following the completion of the transaction, the director owned 43,281 shares of the company's stock, valued at approximately $3,328,308.90. This trade represents a 9.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 649,280 shares of company stock worth $49,666,341. 5.10% of the stock is owned by corporate insiders.

Everpure Trading Down 0.0%

P opened at $69.14 on Monday. The firm has a market cap of $22.98 billion, a P/E ratio of 104.76, a P/E/G ratio of 3.93 and a beta of 1.44. The firm has a 50 day moving average of $76.44. Everpure, Inc. has a 1-year low of $53.43 and a 1-year high of $100.59.

Everpure (NYSE:P - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. During the same period last year, the firm posted $0.29 earnings per share. The business's revenue for the quarter was up 35.2% on a year-over-year basis. On average, equities analysts predict that Everpure, Inc. will post 0.91 earnings per share 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.

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