John Colgrove Sells 99,900 Shares of Everpure (NYSE:P) Stock

Key Points

• Insider sale: Everpure insider John Colgrove sold 99,900 shares on June 12 at an average price of $71.04, generating about $7.1 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and his ownership fell by 3.68% to 2.615 million shares.
• Stock and earnings strength: Everpure shares rose 4.4% to $72.40 in the session, while the company recently reported quarterly EPS of $0.47, beating estimates of $0.40. Revenue also came in above expectations at $1.05 billion, up 35.2% year over year.
• Wall Street outlook remains positive: Analysts currently rate Everpure a Moderate Buy, with 13 Buy ratings, six Holds, and one Sell. The consensus price target is $96.32, with some firms recently raising targets as high as $115.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 99,900 shares of Everpure stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $71.04, for a total transaction of $7,096,896.00. Following the transaction, the insider directly owned 2,615,000 shares of the company's stock, valued at approximately $185,769,600. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 stock was 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 value of $17,186,000.00.
• On Thursday, May 7th, John Colgrove sold 29,108 shares of Everpure stock. The shares were sold at an average price of $75.31, for a total transaction of $2,192,123.48.
• On Wednesday, May 6th, John Colgrove sold 27,578 shares of Everpure stock. The shares were sold at an average price of $75.01, for a total transaction of $2,068,625.78.
• On Tuesday, May 5th, John Colgrove sold 77,579 shares of Everpure stock. The stock was sold at an average price of $75.12, for a total transaction of $5,827,734.48.
• On Friday, April 24th, John Colgrove sold 28,935 shares of Everpure stock. The stock was sold at an average price of $70.01, for a total transaction of $2,025,739.35.
• On Thursday, April 23rd, John Colgrove sold 71,959 shares of Everpure stock. The shares were sold at an average price of $70.06, for a total transaction of $5,041,447.54.
• On Wednesday, April 22nd, John Colgrove sold 82,266 shares of Everpure stock. The stock was sold at an average price of $70.50, for a total value of $5,799,753.00.
• On Tuesday, April 21st, John Colgrove sold 16,840 shares of Everpure stock. The shares were sold at an average price of $70.06, for a total value of $1,179,810.40.

Everpure Stock Up 4.4%

P traded up $3.06 on Friday, hitting $72.40. 3,079,281 shares of the company's stock were exchanged, compared to its average volume of 3,452,870. The stock has a market cap of $23.93 billion, a PE ratio of 109.70, a price-to-earnings-growth ratio of 3.76 and a beta of 1.44. Everpure, Inc. has a fifty-two week low of $50.20 and a fifty-two week high of $100.59.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on P. Piper Sandler reaffirmed an "overweight" rating on shares of Everpure in a research note on Thursday, May 28th. Weiss Ratings initiated coverage on shares of Everpure in a research report on Monday, April 20th. They set a "hold (c)" rating on the stock. William Blair restated an "outperform" rating on shares of Everpure in a research report on Thursday, May 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 target price on shares of Everpure in a research note on Thursday, May 28th. Finally, Guggenheim boosted their target price on shares of Everpure from $105.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $96.32.

Institutional Investors Weigh In On Everpure

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Provenance Wealth Advisors LLC purchased a new stake in Everpure in the third quarter valued at approximately $27,000. Sunbelt Securities Inc. boosted its position in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock worth $28,000 after buying an additional 244 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Everpure during the third quarter worth $28,000. Assetmark Inc. grew its stake in shares of Everpure by 186.6% in the third 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. Finally, Banque Transatlantique SA purchased a new stake in shares of Everpure in the 3rd quarter valued at $29,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

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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