Vanguard Group Inc. Sells 766,010 Shares of Everpure, Inc. $P

Key Points

• Vanguard trimmed its stake by 2.3%, selling 766,010 shares and now holds 33,125,015 shares (10.03% of Everpure) valued at about $2.22 billion.
• Everpure beat quarterly expectations (EPS $0.69 vs $0.65) with revenue up 20.4% to $1.06 billion, but the stock carries a high valuation (PE ~127.8) and a consensus "Moderate Buy" with an average price target of $93.21.
• Insider selling has been notable recently: John Colgrove sold 28,935 shares under a Rule 10b5‑1 plan, and insiders have sold 200,000 shares in the last 90 days totaling about $14.05 million.

Vanguard Group Inc. cut its position in shares of Everpure, Inc. (NYSE:P - Free Report) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,125,015 shares of the company's stock after selling 766,010 shares during the period. Vanguard Group Inc. owned 10.03% of Everpure worth $2,219,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its stake in Everpure by 786.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company's stock valued at $337,554,000 after buying an additional 3,573,493 shares during the period. Atreides Management LP bought a new position in shares of Everpure during the 2nd quarter worth approximately $204,552,000. Polar Capital Holdings Plc increased its holdings in shares of Everpure by 90.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company's stock worth $237,278,000 after acquiring an additional 1,345,207 shares during the last quarter. AQR Capital Management LLC raised its stake in Everpure by 158.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,938,125 shares of the company's stock valued at $110,473,000 after acquiring an additional 1,188,126 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in Everpure by 69.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company's stock valued at $146,798,000 after acquiring an additional 717,834 shares during the period. 83.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Everpure

In other news, insider John Colgrove sold 28,935 shares of Everpure stock in a transaction on Friday, April 24th. The stock was sold at an average price of $70.01, for a total value of $2,025,739.35. 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. Over the last 90 days, insiders sold 200,000 shares of company stock valued at $14,046,750. Company insiders own 5.60% of the company's stock.

Everpure Stock Down 0.9%

Shares of NYSE:P opened at $70.31 on Thursday. Everpure, Inc. has a 12 month low of $43.51 and a 12 month high of $100.59. The company has a market capitalization of $23.23 billion, a PE ratio of 127.84, a PEG ratio of 5.52 and a beta of 1.34.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on P shares. Citigroup reduced their price objective on shares of Everpure from $105.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, February 17th. Wells Fargo & Company cut their target price on shares of Everpure from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Barclays lifted their target price on shares of Everpure from $77.00 to $81.00 and gave the stock an "equal weight" rating in a report on Thursday, February 26th. UBS Group upped their price target on shares of Everpure from $60.00 to $63.00 and gave the company a "sell" rating in a research note on Thursday, February 26th. Finally, Northland Securities raised shares of Everpure from a "market perform" rating to an "outperform" rating and increased their price target for the company from $77.00 to $81.00 in a report on Monday, March 9th. Thirteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $93.21.

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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