Taylor Frigon Capital Management LLC Sells 18,837 Shares of Everpure, Inc. $PSTG

Key Points

• Taylor Frigon Capital Management LLC reduced its stake in Everpure, Inc. (PSTG) by 36.4% in Q4, selling 18,837 shares and leaving it with 32,921 shares valued at about $2.21 million.
• Everpure recently beat quarterly estimates (EPS $0.69 vs. $0.65) with revenue up 20.4% year-over-year, and analysts remain largely positive—consensus rating "Moderate Buy" with a $94.53 price target.

Taylor Frigon Capital Management LLC cut its holdings in Everpure, Inc. (NYSE:PSTG - Free Report) by 36.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,921 shares of the technology company's stock after selling 18,837 shares during the quarter. Taylor Frigon Capital Management LLC's holdings in Everpure were worth $2,206,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PSTG. Winnow Wealth LLC acquired a new stake in Everpure in the third quarter valued at about $26,000. Provenance Wealth Advisors LLC acquired a new stake in Everpure in the third quarter valued at about $27,000. Foster Dykema Cabot & Partners LLC acquired a new stake in Everpure in the third quarter valued at about $28,000. Sunbelt Securities Inc. boosted its stake in Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company's stock valued at $28,000 after buying an additional 244 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Everpure by 186.6% in the third quarter. Assetmark Inc. now owns 341 shares of the technology company's stock valued at $29,000 after buying an additional 222 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Everpure Trading Up 1.4%

Shares of PSTG stock opened at $64.90 on Thursday. The business's 50-day moving average price is $65.32 and its 200-day moving average price is $74.81. Everpure, Inc. has a 12 month low of $39.72 and a 12 month high of $100.59. The firm has a market capitalization of $21.45 billion, a price-to-earnings ratio of 118.01, a PEG ratio of 4.78 and a beta of 1.34.

Everpure (NYSE:PSTG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm posted $0.45 earnings per share. The business's revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts predict that Everpure, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSTG has been the topic of several research analyst reports. Barclays raised their price objective on Everpure from $77.00 to $81.00 and gave the company an "equal weight" rating in a research note on Thursday, February 26th. Northland Securities raised Everpure from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $77.00 to $81.00 in a research note on Monday, March 9th. Wall Street Zen raised Everpure from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Wedbush reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Everpure in a research note on Monday, February 23rd. Finally, Wells Fargo & Company reduced their price objective on Everpure from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday, February 26th. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock 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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