Insider Selling: Everpure (NYSE:P) Insider Sells 82,266 Shares of Stock

Key Points

• Insider sale: Everpure insider John Colgrove executed large stock sales under a pre-arranged Rule 10b5-1 plan, selling 82,266 shares on April 22 at $70.50 (~$5.80M) and additionally 71,959 shares on April 23 and 16,840 on April 21, cutting his ownership by 55.14% to 66,927 shares.
• Market and analyst context: shares traded up about 0.9% to $69.99 midday; Everpure beat quarterly expectations with revenue up 20.4% year-over-year, and analysts maintain a Moderate Buy consensus with an average price target of $93.21.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 82,266 shares of the business's stock in a transaction that occurred on 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 transaction, the insider owned 66,927 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Colgrove also recently made the following trade(s):

• On Thursday, April 23rd, John Colgrove sold 71,959 shares of Everpure stock. The stock was sold at an average price of $70.06, for a total value of $5,041,447.54.
• On Tuesday, April 21st, John Colgrove sold 16,840 shares of Everpure stock. The stock was sold at an average price of $70.06, for a total value of $1,179,810.40.

Everpure Trading Up 0.9%

Shares of NYSE P traded up $0.63 during midday trading on Thursday, hitting $69.99. 2,607,278 shares of the company's stock were exchanged, compared to its average volume of 3,334,796. The company has a market cap of $23.13 billion, a PE ratio of 127.26, a P/E/G ratio of 5.16 and a beta of 1.34. Everpure, Inc. has a twelve month low of $43.08 and a twelve month high of $100.59.

Everpure (NYSE:P - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. The firm's quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Everpure, Inc. will post 0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Everpure

Institutional investors and hedge funds have recently modified their holdings of the stock. Winnow Wealth LLC acquired a new stake in shares of Everpure during the 3rd quarter valued at $26,000. Provenance Wealth Advisors LLC acquired a new stake in shares of Everpure during the 3rd quarter valued at $27,000. Salomon & Ludwin LLC raised its stake in 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 purchasing an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in Everpure during the 3rd quarter valued at $28,000. Finally, Sunbelt Securities Inc. raised its stake in 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 purchasing an additional 244 shares during the period. Institutional investors and hedge funds own 83.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler reiterated a "buy" rating on shares of Everpure in a research report on Thursday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of Everpure from $105.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. Wall Street Zen raised shares of Everpure from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. UBS Group raised their target price on shares of Everpure from $60.00 to $63.00 and gave the stock a "sell" rating in a report on Thursday, February 26th. Finally, Weiss Ratings initiated coverage on shares of Everpure in a research report on Monday. They issued a "hold (c)" rating on the stock. Thirteen equities 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 presently has a consensus rating of "Moderate Buy" and an average price target of $93.21.

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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