John Colgrove Sells 89,720 Shares of Everpure (NYSE:P) Stock

Key Points

• John Colgrove sold 89,720 Everpure shares at an average price of $85.66, generating approximately $7.69 million. The Rule 10b5-1 transaction reduced his position by 1.36%, leaving him with 6.51 million shares.
• Everpure shares recently traded at $87.45, with a market capitalization of $29.07 billion and a 12-month range of $54.37 to $100.59. The stock carries a high P/E ratio of 132.51.
• The company beat quarterly earnings expectations, reporting $0.47 EPS versus a $0.40 consensus and revenue growth of 35.2% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $96.50, while institutional investors own 83.42% of the stock.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 89,720 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $85.66, for a total value of $7,685,415.20. Following the completion of the sale, the insider owned 6,509,265 shares of the company's stock, valued at approximately $557,583,639.90. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, July 10th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $79.82, for a total value of $7,982,000.00.
• On Friday, June 12th, John Colgrove sold 99,900 shares of Everpure stock. The stock was sold at an average price of $71.04, for a total value of $7,096,896.00.
• On Wednesday, June 10th, John Colgrove sold 100 shares of Everpure stock. The stock was sold at an average price of $70.00, for a total transaction of $7,000.00.
• On Tuesday, June 2nd, John Colgrove sold 10,280 shares of Everpure stock. The shares were sold at an average price of $85.32, for a total transaction of $877,089.60.
• On Monday, May 11th, John Colgrove sold 200,000 shares of Everpure stock. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00.

Everpure Stock Performance

Shares of P stock traded up $3.71 during midday trading on Thursday, reaching $87.45. 2,224,560 shares of the company were exchanged, compared to its average volume of 3,267,762. The business has a 50 day simple moving average of $75.04. The stock has a market capitalization of $29.07 billion, a P/E ratio of 132.51, a P/E/G ratio of 4.75 and a beta of 1.45. Everpure, Inc. has a 12 month low of $54.37 and a 12 month high of $100.59.

Everpure (NYSE:P - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $997.88 million. During the same period last year, the firm posted $0.29 earnings per share. The business's revenue was up 35.2% on a year-over-year basis. Equities research analysts predict that Everpure, Inc. will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Everpure

Institutional investors and hedge funds have recently modified their holdings of the stock. S&CO Inc. acquired a new position in shares of Everpure in the 2nd quarter valued at $15,003,000. Bigelow Investment Advisors LLC acquired a new stake in Everpure during the 1st quarter worth about $231,000. Janney Montgomery Scott LLC lifted its stake in Everpure by 46.0% during the first quarter. Janney Montgomery Scott LLC now owns 28,138 shares of the company's stock valued at $1,661,000 after buying an additional 8,861 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Everpure by 22.9% during the first quarter. Pictet Asset Management Holding SA now owns 157,702 shares of the company's stock valued at $9,302,000 after buying an additional 29,386 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Everpure in the first quarter worth about $5,367,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on P. Weiss Ratings reissued a "hold (c)" rating on shares of Everpure in a research note on Friday, July 17th. Barclays lifted their target price on Everpure from $81.00 to $84.00 and gave the stock an "equal weight" rating in a report on Thursday, May 28th. TD Cowen reissued a "buy" rating on shares of Everpure in a report on Wednesday, July 1st. Wells Fargo & Company raised their price objective on shares of Everpure from $90.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, May 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of Everpure in a research note on Thursday, May 28th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Everpure currently has an average rating of "Moderate Buy" and an average price target of $96.50.

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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