Oregon Public Employees Retirement Fund Sells 24,361 Shares of Everpure, Inc. $P

Key Points

• Oregon Public Employees Retirement Fund reduced its Everpure stake by 37.3% in the third quarter, selling 24,361 shares. It ended the quarter with 40,900 shares valued at about $5.35 million.
• Institutional investors collectively own 83.42% of Everpure, while company insiders sold about 1.11 million shares worth $131.4 million over the past three months.
• Analysts have a consensus “Moderate Buy” rating and a $148.65 price target. Everpure’s latest quarterly results beat EPS estimates ($0.70 versus $0.19), with revenue up 37.7% year over year.

Oregon Public Employees Retirement Fund lowered its stake in shares of Everpure, Inc. (NYSE:P - Free Report) by 37.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 40,900 shares of the company's stock after selling 24,361 shares during the period. Oregon Public Employees Retirement Fund's holdings in Everpure were worth $5,349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. JANA Partners Management LP purchased a new stake in shares of Everpure in the second quarter worth about $77,939,000. Assenagon Asset Management S.A. raised its position in Everpure by 504.0% during the third quarter. Assenagon Asset Management S.A. now owns 994,061 shares of the company's stock valued at $130,003,000 after acquiring an additional 829,476 shares in the last quarter. Artemis Investment Management LLP raised its position in Everpure by 100.1% during the third quarter. Artemis Investment Management LLP now owns 775,776 shares of the company's stock valued at $101,456,000 after acquiring an additional 388,066 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in Everpure during the second quarter valued at approximately $25,525,000. Finally, Engineers Gate Manager LP acquired a new position in Everpure in the second quarter valued at approximately $25,859,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Insiders Place Their Bets

In other news, CAO Mona Chu sold 5,112 shares of the company's stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $151.40, for a total transaction of $773,956.80. Following the completion of the transaction, the chief accounting officer directly owned 125,982 shares of the company's stock, valued at $19,073,674.80. This represents a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew Brown sold 4,268 shares of the company's stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $156.03, for a total value of $665,936.04. Following the transaction, the director directly owned 23,415 shares of the company's stock, valued at approximately $3,653,442.45. The trade was a 15.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,110,186 shares of company stock valued at $131,424,120. 5.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on P. Needham & Company LLC upped their price objective on Everpure from $150.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, October 8th. Morgan Stanley raised their price objective on shares of Everpure from $119.00 to $137.00 and gave the stock an "overweight" rating in a research note on Thursday, September 24th. Susquehanna lifted their target price on shares of Everpure from $145.00 to $175.00 and gave the company a "positive" rating in a report on Friday, September 25th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Everpure in a report on Monday, October 12th. Finally, Evercore boosted their target price on shares of Everpure from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.65.

Everpure Price Performance

NYSE:P opened at $93.35 on Friday. Everpure, Inc. has a 52 week low of $56.78 and a 52 week high of $157.57. The firm has a market cap of $31.11 billion, a PE ratio of 137.99, a PEG ratio of 3.73 and a beta of 1.43. The company's 50-day simple moving average is $120.03.

Everpure (NYSE:P - Get Free Report) last announced its quarterly 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 firm had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The business's revenue was up 37.7% on a year-over-year basis. As a group, equities research analysts expect that Everpure, Inc. will post 0.95 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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