Versor Investments LP Takes Position in Everpure, Inc. $P

Key Points

• Versor Investments LP opened a new position in Everpure, buying 14,451 shares valued at about $968,000 in the fourth quarter.
• Institutional ownership remains heavy, with hedge funds and other investors holding 83.42% of the company’s stock. Several firms also recently added or increased their stakes.
• Everpure has been posting solid fundamentals: it beat quarterly earnings and revenue estimates, and analysts currently rate the stock Moderate Buy with an average target price of $93.21. However, recent insider selling and concerns about valuation suggest some caution.

Versor Investments LP bought a new stake in shares of Everpure, Inc. (NYSE:P - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 14,451 shares of the company's stock, valued at approximately $968,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Winnow Wealth LLC purchased a new position in shares of Everpure during the 3rd quarter valued at approximately $26,000. Provenance Wealth Advisors LLC purchased a new position in shares of Everpure during the 3rd quarter valued at approximately $27,000. Sunbelt Securities Inc. lifted 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 buying an additional 244 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Everpure during the 3rd quarter valued at approximately $28,000. Finally, Assetmark Inc. lifted its position in shares of Everpure by 186.6% during the 3rd quarter. Assetmark Inc. now owns 341 shares of the company's stock valued at $29,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings assumed coverage on Everpure in a research report on Monday, April 20th. They set a "hold (c)" rating on the stock. Barclays raised their price objective 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 upgraded Everpure from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Citigroup decreased their price objective on Everpure from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. decreased their price objective on Everpure from $105.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, April 16th. Thirteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.21.

Everpure Stock Performance

Shares of P opened at $83.27 on Wednesday. The stock has a market capitalization of $27.52 billion, a P/E ratio of 151.40, a P/E/G ratio of 6.52 and a beta of 1.44. Everpure, Inc. has a 12-month low of $50.20 and a 12-month high of $100.59.

Everpure (NYSE:P - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Everpure's revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. Analysts expect that Everpure, Inc. will post 0.72 earnings per share for the current year.

Key Stories Impacting Everpure

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure officially finalized its acquisition of 1touch, a deal that could expand its product and platform capabilities and support longer-term growth. Everpure Officially Finalizes Acquisition of 1touch
• Positive Sentiment: The company’s Portworx unit announced new Red Hat OpenShift capabilities, making data management more native to Kubernetes environments and potentially strengthening Everpure’s role in AI, container, and virtual machine workloads. Portworx by Everpure Makes Data Management Native to Red Hat OpenShift
• Neutral Sentiment: Everpure stock has been rallying ahead of its upcoming earnings report, reflecting investor optimism, but the stock is still being viewed through the lens of a valuation and earnings test. Everpure Stock Rallies As Data Storage Player Nears Earnings Test
• Neutral Sentiment: One market note said the latest trend in earnings estimate revisions may not support continued upside in the near term, suggesting some caution after the recent surge. Everpure (P) Moves 11.8% Higher: Will This Strength Last?
• Negative Sentiment: Despite the recent strength, some investors are questioning whether Everpure’s sharp one-year run has already priced in much of the good news, which could limit further upside if earnings or guidance disappoint. Is It Too Late To Consider Everpure (P) After Its 63.7% One Year Surge?

Insiders Place Their Bets

In other Everpure news, insider John Colgrove sold 82,266 shares of Everpure stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $70.50, for a total value of $5,799,753.00. Following the completion of the transaction, the insider directly owned 66,927 shares of the company's stock, valued at $4,718,353.50. The trade was a 55.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 334,265 shares of company stock valued at $24,135,234. Insiders own 5.10% of the company's stock.

Everpure Company 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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