Sumitomo Mitsui Trust Group Inc. Trims Stake in Everpure, Inc. $PSTG

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Everpure by 0.9% to 1,759,594 shares (0.53% of the company) worth $117.91M, while Robeco lifted its position 170.5%; overall, institutional and hedge funds own about 83.42% of the stock.
• Everpure beat Q4 estimates, reporting $0.69 EPS (vs. $0.65 expected) and $1.06B revenue (vs. $1.03B expected), with revenue up 20.4% year-over-year.
• Wall Street has a consensus "Moderate Buy" rating with a $94.53 price target, while the stock trades near $63 and carries a high P/E of 114.85, reflecting growth expectations priced into the shares.

Sumitomo Mitsui Trust Group Inc. reduced its position in Everpure, Inc. (NYSE:PSTG - Free Report) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,759,594 shares of the technology company's stock after selling 16,493 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.53% of Everpure worth $117,910,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Everpure by 170.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 456,437 shares of the technology company's stock valued at $30,586,000 after purchasing an additional 287,727 shares during the last quarter. Clear Creek Financial Management LLC lifted its holdings in shares of Everpure by 4.1% in the 4th quarter. Clear Creek Financial Management LLC now owns 8,761 shares of the technology company's stock valued at $587,000 after purchasing an additional 348 shares during the last quarter. Fiduciary Alliance LLC lifted its holdings in shares of Everpure by 2.1% in the 4th quarter. Fiduciary Alliance LLC now owns 11,200 shares of the technology company's stock valued at $751,000 after purchasing an additional 233 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Everpure in the 4th quarter valued at about $170,000. Finally, Capital Investment Advisory Services LLC lifted its holdings in shares of Everpure by 44.3% in the 4th quarter. Capital Investment Advisory Services LLC now owns 11,050 shares of the technology company's stock valued at $740,000 after purchasing an additional 3,392 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Everpure Stock Up 3.7%

PSTG opened at $63.17 on Tuesday. The business has a 50 day moving average price of $65.46 and a two-hundred day moving average price of $75.01. The company has a market cap of $20.87 billion, a PE ratio of 114.85, a P/E/G ratio of 4.55 and a beta of 1.34. Everpure, Inc. has a 52 week low of $39.72 and a 52 week high of $100.59.

Everpure (NYSE:PSTG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The firm's revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. As a group, sell-side analysts expect that Everpure, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PSTG has been the subject of several research reports. Barclays boosted their target price on Everpure from $77.00 to $81.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Wall Street Zen raised Everpure from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Wells Fargo & Company reduced their price objective on Everpure from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Everpure in a research note on Thursday, January 22nd. Finally, Citigroup reduced their price objective on Everpure from $105.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, February 17th. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $94.53.

Everpure Profile

Everpure, Inc NYSE: PSTG, formerly known as Pure Storage, Inc, is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays engineered to deliver high performance, low latency, and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics, and large-scale file and object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.

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