Saudi Central Bank Makes New $1.73 Million Investment in Everpure, Inc. $P

Key Points

• Saudi Central Bank purchased 21,976 Everpure shares worth approximately $1.73 million during the second quarter. Institutional investors collectively own 83.42% of the company.
• Everpure reported quarterly earnings of $0.70 per share, beating estimates of $0.19, while revenue reached $1.19 billion—up 37.7% year over year.
• Wall Street maintains a “Moderate Buy” consensus, with an average price target of $129.10 versus the stock’s reported $101.05 price. Insiders, however, sold about $77.3 million of shares in the latest quarter.

Saudi Central Bank bought a new stake in shares of Everpure, Inc. (NYSE:P - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,976 shares of the company's stock, valued at approximately $1,731,000.

Other hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its stake in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock valued at $28,000 after purchasing an additional 244 shares in the last quarter. Continuum Advisory LLC purchased a new stake in Everpure during the second quarter worth $29,000. Banque Transatlantique SA purchased a new stake in Everpure during the third quarter worth $29,000. Reflection Asset Management bought a new stake in Everpure during the 4th quarter valued at $32,000. Finally, Greenline Wealth Management LLC bought a new position in shares of Everpure in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Everpure Stock Performance

Shares of Everpure stock opened at $101.05 on Wednesday. Everpure, Inc. has a one year low of $56.78 and a one year high of $119.10. The stock's fifty day moving average price is $88.85. The stock has a market cap of $33.59 billion, a P/E ratio of 138.42, a P/E/G ratio of 4.00 and a beta of 1.43.

Everpure (NYSE:P - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.51. The firm 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 firm's revenue was up 37.7% compared to the same quarter last year. As a group, equities analysts anticipate that Everpure, Inc. will post 0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on P. Bank of America raised shares of Everpure from a "neutral" rating to a "buy" rating and increased their price target for the company from $90.00 to $150.00 in a research report on Thursday, August 27th. JPMorgan Chase & Co. lifted their target price on shares of Everpure from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Barclays lifted their price target on Everpure from $84.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, August 28th. Oppenheimer reissued an "outperform" rating and set a $140.00 target price on shares of Everpure in a report on Thursday, August 20th. Finally, Lake Street Capital restated a "buy" rating and issued a $120.00 price objective 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 issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $129.10.

Insider Buying and Selling at Everpure

In other news, insider John Colgrove sold 64,815 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $117.44, for a total transaction of $7,611,873.60. Following the completion of the transaction, the insider directly owned 6,074,080 shares of the company's stock, valued at $713,339,955.20. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ajay Singh sold 9,787 shares of the business's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $78.12, for a total value of $764,560.44. Following the completion of the transaction, the insider directly owned 340,939 shares of the company's stock, valued at approximately $26,634,154.68. This trade represents a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 817,420 shares of company stock valued at $77,269,792 in the last quarter. Insiders own 5.10% of the company's stock.

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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