Strengthening Families & Communities LLC Sells 38,596 Shares of Everpure, Inc. $P

Key Points

• Strengthening Families & Communities LLC reduced its Everpure position by 98.5%, selling 38,596 shares and retaining just 578 shares valued at approximately $76,000. Institutional investors and hedge funds collectively own 83.42% of the company.
• Everpure insiders sold 1.24 million shares worth $142.3 million over the past 90 days, including substantial sales by Chief Accounting Officer Mona Chu and Director Scott Dietzen.
• The stock rose 4.1% to $131.66 after Everpure reported quarterly EPS of $0.70, well above the $0.19 consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $143.25.

Strengthening Families & Communities LLC trimmed its position in shares of Everpure, Inc. (NYSE:P - Free Report) by 98.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 578 shares of the company's stock after selling 38,596 shares during the period. Strengthening Families & Communities LLC's holdings in Everpure were worth $76,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. JANA Partners Management LP acquired a new stake in shares of Everpure during the 2nd quarter worth approximately $77,939,000. Assenagon Asset Management S.A. increased its position in shares of 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 purchasing an additional 829,476 shares during the period. Artemis Investment Management LLP raised its stake in shares of Everpure by 100.1% in the third quarter. Artemis Investment Management LLP now owns 775,776 shares of the company's stock valued at $101,456,000 after purchasing an additional 388,066 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Everpure in the second quarter valued at $25,525,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Everpure in the second quarter valued at $25,859,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Buying and Selling at Everpure

In other Everpure news, CAO Mona Chu sold 5,112 shares of the business's stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $151.40, for a total value of $773,956.80. Following the transaction, the chief accounting officer directly owned 125,982 shares in the company, valued at $19,073,674.80. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Dietzen sold 60,000 shares of the company's stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $141.60, for a total transaction of $8,496,000.00. Following the sale, the director directly owned 70,000 shares in the company, valued at $9,912,000. This represents a 46.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,235,091 shares of company stock worth $142,276,537 over the last ninety days. Company insiders own 5.10% of the company's stock.

Everpure Stock Up 4.1%

NYSE:P traded up $5.14 during trading hours on Wednesday, reaching $131.66. The company had a trading volume of 1,060,989 shares, compared to its average volume of 3,801,483. The business has a 50-day simple moving average of $116.80. Everpure, Inc. has a one year low of $56.78 and a one year high of $157.57. The firm has a market cap of $43.87 billion, a price-to-earnings ratio of 180.35, a PEG ratio of 4.24 and a beta of 1.39.

Everpure (NYSE:P - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%. The company had revenue of $1.19 billion during the quarter. Everpure's revenue was up 37.7% compared to the same quarter last year. As a group, equities research analysts predict that Everpure, Inc. will post 0.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on P shares. Piper Sandler raised their target price on Everpure from $133.00 to $162.00 and gave the stock an "overweight" rating in a research report on Thursday, September 24th. Needham & Company LLC boosted their price target on shares of Everpure from $150.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, October 8th. Oppenheimer restated an "outperform" rating and issued a $140.00 price objective on shares of Everpure in a research note on Thursday, August 20th. Evercore restated an "outperform" rating and issued a $145.00 price objective on shares of Everpure in a research note on Thursday, September 24th. Finally, Lake Street Capital raised their price objective on shares of Everpure from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.25.

Everpure 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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