Everpure (NYSE:P) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Everpure (NYSE:P) issued its quarterly earnings results on Wednesday. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07, FiscalAI reports. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $997.88 million.

Everpure Trading Down 2.8%

P stock traded down $2.49 during mid-day trading on Wednesday, reaching $85.86. 5,467,564 shares of the stock traded hands, compared to its average volume of 3,309,413. Everpure has a 52-week low of $50.20 and a 52-week high of $100.59. The firm has a market capitalization of $28.37 billion, a PE ratio of 156.11, a P/E/G ratio of 6.52 and a beta of 1.44.

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 200,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the completion of the sale, the insider directly owned 6,625,221 shares of the company’s stock, valued at approximately $569,305,240.53. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 534,265 shares of company stock worth $41,321,234 over the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Everpure

Hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. lifted its stake in Everpure by 287.1% during the third 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. Banque Transatlantique SA purchased a new stake in Everpure during the third quarter valued at about $29,000. Greenline Wealth Management LLC purchased a new stake in Everpure during the fourth quarter valued at about $32,000. Transamerica Financial Advisors LLC lifted its stake in Everpure by 50.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 508 shares of the company’s stock valued at $34,000 after buying an additional 170 shares in the last quarter. Finally, Strive Financial Group LLC purchased a new stake in Everpure during the fourth quarter valued at about $36,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of Everpure from $60.00 to $63.00 and gave the company a “sell” rating in a report on Thursday, February 26th. Piper Sandler reissued a “buy” rating on shares of Everpure in a report on Thursday, February 26th. Barclays upped their price target on shares of Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. JPMorgan Chase & Co. cut their price target on shares of Everpure from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Finally, Wells Fargo & Company cut their price target on shares of Everpure from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Everpure presently has an average 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.