Everpure (NYSE:P) Sees Strong Trading Volume – Here’s What Happened

Everpure, Inc. (NYSE:P) shares saw unusually-strong trading volume on Monday . Approximately 2,399,775 shares traded hands during mid-day trading, a decline of 25% from the previous session’s volume of 3,199,914 shares.The stock last traded at $88.3780 and had previously closed at $78.16.

Analyst Ratings Changes

P has been the subject of a number of research reports. Wedbush restated an “outperform” rating and set a $100.00 target price on shares of Everpure in a research report on Monday, February 23rd. 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 research report on Thursday, February 26th. Citigroup cut their target price 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. Northland Securities upgraded shares of Everpure from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $77.00 to $81.00 in a research report on Monday, March 9th. Finally, Wall Street Zen upgraded shares of Everpure from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Thirteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.21.

Everpure Trading Up 11.5%

The stock has a market capitalization of $28.81 billion, a PE ratio of 158.52, a PEG ratio of 5.83 and a beta of 1.44.

Everpure (NYSE:P) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, research analysts forecast that Everpure, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Everpure

In other news, insider John Colgrove sold 29,108 shares of Everpure stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $75.31, for a total transaction of $2,192,123.48. Following the completion of the sale, the insider directly owned 467,694 shares in the company, valued at $35,222,035.14. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 334,265 shares of company stock worth $24,135,234 in the last ninety days. Insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Everpure

A number of hedge funds and other institutional investors have recently modified their holdings of P. Integrated Wealth Concepts LLC purchased a new stake in shares of Everpure during the first quarter worth about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Everpure by 129.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company’s stock valued at $387,000 after purchasing an additional 4,926 shares during the period. Goldman Sachs Group Inc. grew its holdings in Everpure by 109.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company’s stock valued at $50,377,000 after purchasing an additional 595,307 shares during the period. Empowered Funds LLC grew its holdings in Everpure by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock valued at $212,000 after purchasing an additional 194 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Everpure by 261.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company’s stock valued at $184,000 after purchasing an additional 2,316 shares during the period. 83.42% of the stock is currently 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.