Swedbank AB Has $16.94 Million Position in Everpure, Inc. $P

Key Points

• Swedbank AB boosted its Everpure stake by 63.3% in the fourth quarter, ending with 252,732 shares worth about $16.94 million.
• Insider selling was notable: John Colgrove sold 82,266 shares for about $5.8 million, and insiders collectively sold 334,265 shares last quarter.
• Everpure reported quarterly results that beat expectations, with $0.69 EPS versus $0.65 estimated and revenue of $1.06 billion, while analysts currently rate the stock a Moderate Buy with a $93.21 consensus target.

Swedbank AB increased its holdings in shares of Everpure, Inc. (NYSE:P - Free Report) by 63.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 252,732 shares of the company's stock after acquiring an additional 97,978 shares during the period. Swedbank AB owned about 0.08% of Everpure worth $16,936,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in P. Winnow Wealth LLC acquired a new stake in shares of Everpure during the 3rd quarter valued at about $26,000. Provenance Wealth Advisors LLC acquired a new stake in shares of Everpure during the 3rd quarter valued at about $27,000. Salomon & Ludwin LLC boosted its position in shares of Everpure by 108.2% during the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company's stock valued at $27,000 after acquiring an additional 199 shares in the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Everpure during the 3rd quarter valued at about $28,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock valued at $28,000 after acquiring an additional 244 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John Colgrove sold 82,266 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $70.50, for a total transaction of $5,799,753.00. Following the transaction, the insider directly owned 66,927 shares in the company, valued at approximately $4,718,353.50. This represents a 55.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 334,265 shares of company stock worth $24,135,234 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Everpure from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Thursday, February 26th. Northland Securities upgraded shares of Everpure from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $77.00 to $81.00 in a research report on Monday, March 9th. UBS Group lifted their target price on shares of Everpure from $60.00 to $63.00 and gave the company a "sell" rating in a research report on Thursday, February 26th. Weiss Ratings started coverage on shares of Everpure in a research report on Monday, April 20th. They set a "hold (c)" rating on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Everpure from $105.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, April 16th. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.21.

Everpure Trading Up 2.6%

NYSE:P opened at $78.04 on Friday. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 141.90, a PEG ratio of 5.68 and a beta of 1.44. Everpure, Inc. has a 12 month low of $48.31 and a 12 month high of $100.59.

Everpure (NYSE:P - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. Research analysts predict that Everpure, Inc. will post 0.72 earnings per share for the current fiscal 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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